Colombia's agri-food exports grew by 3% year-on-year between January and July 2020, as the world battled an outbreak of the novel coronavirus. Exports for the period amounted to $4.5 billion. The United States was largest importer, purchasing Colombian agricultural products worth $1.7 billion (+1.2% year-on-year), followed by the Netherlands, with imports valued at $256 million.
The renewables share in Colombia decreased to 81.75% in August from 83.2% recorded the month before, Colombian grid operator XM said. Clean electricity generators, including large hydropower plants, produced an equivalent of 154.3 GWh per day on average, up by 0.59% month-on-month. Hydropower alone accounted for 98.29% of the total renewables production. The nation’s demand for electricity dropped by 3.18% on the year in August.
Colombia’s national government made two new swaps of internal public debt for 1.35 billion dollars with the Military Housing Promotion Fund and the National Treasury to extend the term of expected maturities for 2021 and 2022. In six domestic debt operations so far this year, the country has exchanged government bonds (TES) for 3,83 bn.
The company divested Loica and Vallecillo through the sale of its fully-owned subsidiaries, North Hill Ovalle and Minera Hampton Chile, to a Chilean buyer for roughly $100,000, following the earlier sale of the Mollacas project in January for $1 MM. Los Cerros has been advancing its Quinchia gold project in Colombia, which includes the Miraflores, Chuscal, Dosquebradas and Tesorito deposits and targets.
The National Administrative Department of Statistics (Dane) reported that Colombian imports fell by 19.8%, from $30,420 MM to $24,404 MM. Between January and July 2020, fuels and extractive industries decreased by 40.2%. The United States (-19.3%), Mexico (-26.7%) and France (-60.5% ) were the main contributors to lower imports in Colombia, with a joint contribution of negative 8.8 percentage points.
The French bank BNP Paribas worsened its estimate of the fall in Colombia's GDP from 3% to 7%, while for 2021 it improved its projection from 2.8% growth to 4.5%. The Colombian Central believes that GDP will fall between 6% and 10%.