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Colombia’s trade deficit soars 34.1% in March

BOGOTÁ (Reuters) – Colombia’s trade deficit increased by 34.1% in March to $ 1,298.1 million, compared to the same month last year, due to the preponderance of imports, although they grew almost by on a par with exports, the National Statistics Department (DANE) revealed on Friday.

The imbalance in the third month resulted from external purchases for 4,624.7 million dollars and exports for 3,326.6 million dollars.

The value of imports increased 35.7% year-on-year, while the value of goods and services sold by the country abroad rose 36.4%, DANE said in a statement.

The increase in the red balance in Colombia’s international trade in March contrasted with the reduction it exhibited in February, from 13.9% year-on-year, to 714.6 million dollars.

Meanwhile, the fourth economy in Latin America accumulated a deficit in its trade balance of 3,007.6 million dollars in the first quarter, 20.7% higher than the same period last year.

In value, the country’s imports grew by 5.2% to 11,881.9 million dollars, while exports did so by 0.82% to 8,874.3 million dollars.

(Report by Nelson Bocanegra. Edited in Spanish by Janisse Huambachano)

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