Colombia Balance of Trade

Last Release

Nov 30, 2024

Actual

-1.75

Units In

USD Billion

-1.42

Frequency

Monthly

Next Release

Feb 14, 2025

Time to Release

13 Days 17 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 1.753 billion in November 2024, up from a USD 1.014 billion deficit in the same month last year. The increase was driven by imports rising faster than exports. Imports surged by 13.7% year-on-year to USD 5.874 billion, marking the seventh increase in the past 25 months, with higher purchases of manufactured products (17.2%) and agricultural goods (22.6%). Exports, on the other hand, fell by 1.8% year-on-year to USD 4.121 billion, primarily led by an 11.2% slump in shipments from the fuels and extractive industries, with petroleum and derivative products falling 9.6%, and coal, coke, and briquette sales slipping by 9.3%. Conversely, exports increased for agricultural goods (+8.7%) and manufactured goods (+1.4%).