Colombian trade balance, June 2022

Merchandise exports increased 82.7% year-on-year in June compared to a 47.0% increase in May.

Meanwhile, merchandise imports rose 24.5% in June, compared with 53.0% in May, the weakest increase in 11 months. The merchandise trade deficit widened to $2.0 billion in June from a $1.7 billion deficit recorded in May. However, the trend has improved, with the 12-month rolling balance of merchandise trade showing a deficit of $18.5 billion in June (May: deficit of $19.1 billion).

LatinFocus Consensus Forecast experts predict that exports of goods will grow by 14.1% in 2022, while imports of goods will grow by 14.6%, resulting in a trade surplus of $3.6 billion. According to our estimates, in 2023, exports of goods will decrease by 0.8%, while imports will grow by 1.7%, and the trade surplus will be $2.9 billion.