Colombian Trade Balance June 2022

Merchandise exports expanded 82.7% year-on-year in June, accelerating from May’s 47.0% increase.

Meanwhile, merchandise imports grew 24.5% in June, down from the 53.0% expansion in May, and represented the weakest increase in 11 months. The merchandise trade deficit widened to $2.0 billion in June from $1.7 billion in May. However, the trend has improved, with the 12-month lagged Goods Trade Balance posting a deficit of $18.5 billion in June (May: $19.1 billion deficit).

Members of the Latin Focus forecasting committee expect merchandise exports to increase by 14.1% in 2022, and merchandise imports to increase by 14.6%, resulting in a trade surplus of US$3.6 billion. In 2023, we estimate that merchandise exports will contract by 0.8% and imports will grow by 1.7%, with a trade surplus of US$2.9 billion.

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