Colombia Balance of Trade

Last Release

Dec 31, 2024

Actual

-1.18

Units In

USD Billion

-1.75

Frequency

Monthly

Next Release

Mar 18, 2025

Time to Release

29 Days 0 Hours

Highest	Lowest	Average	Date Range	Source
0.81 Dec 2011	-2.7 Aug 2022	-0.33 USD Billion	1980-2024	N/A

Colombia is a major exporter of oil and coal (59 percent of total exports). Other exports include: chemicals and related products (5.1 percent) and gold (5 percent). Main imports are: machinery and transport equipment (39 percent of total imports); manufactured products (22 percent); chemicals (17 percent) and fuel and mineral lubricants (10 percent) Main trading partners are: United States (36 percent of total exports and 39 percent of imports) and China (6 percent of exports and 16 percent of imports). Others include: Mexico, Spain and Venezuela.

Latest Updates

Colombia's trade deficit widened to USD 1.178 billion in December 2024, up from a USD 0.811 billion deficit in the same month last year. The increase was driven by imports rising faster than exports. Imports rose by 7.5% year-on-year to USD 5.651 billion, marking the eighth increase in the past 26 months, with higher purchases of manufactured products (8.7%) and extractive industries (14.7%). Meanwhile, exports rose by a marginal 0.6% year-on-year to USD 4.472 billion, primarily led by a 29.5% surge in shipments from the agricultural industry, followed by the manufactured goods (16.5%). However, fuels and extractive industries fell by 18.8%.