Colombia: Merchandise exports rebound in May
Merchandise exports soared 17.0% on an annual basis in May, on the heels of April’s 31.5% dive. May’s outturn marked the strongest reading since September 2022. Meanwhile, merchandise imports dived 20.4% over the same month last year in May (April: -22.7% yoy).
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 1.7 billion deficit in May (April 2023: USD 0.8 billion deficit; May 2022: USD 3.5 billion deficit).
Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 14.7 billion deficit in April, compared to the USD 16.4 billion deficit in March.