Trade balance closed with a deficit of US$4,307 million

Trade balance closed with a deficit of US$4,307 million

Colombia’s trade balance closed with a deficit of US$4,307.3 million in the first quarter of 2022, according to the report published this Monday by the National Administrative Department of Statistics (Dane).

(Read: GDP grew 8.5% in the first quarter of 2022).

In the document, the statistical agency specified that in the first three months of the year, the exports totaled US$12,972.7 million, while imports reached US$17,280.1 million, which reflects the registered deficit data.

The trade deficit in the first three months of the year represented an increase of US$1,359 million compared to the same period in 2021, when the imbalance totaled US$2,948.3 million.

This data in the first three months represents the lowest trade deficit since 2014 in this period, when comparing the records held by the entity.

Now, the data for the month of March maintains that there was a deficit in the Colombian trade balance of US$1,520.7 million, while for March 2021 this imbalance was US$1,241.2 million.

(Besides: Regional overview: how is inflation in Latin American countries).

On the other hand, in the midst of the world situation due to the war in Ukraine, Dane shared the results on Colombian imports from belligerent countries. This approach resulted in a deficit balance of US$40.4 million for the country in its trade balance for March with Russia, while against kyiv, Colombia registered a trade surplus of US$2.7 million.

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