Colombia’s trade deficit increases 9.7% in October, due to a deterioration in exports

Colombia’s trade deficit increased by 9.7% year-on-year in October to $ 884.6 million, due to a further deterioration in exports, data from the National Statistics Department (DANE) revealed on Friday. The imbalance resulted from imports for $3.5 billion and exports for 2.6 million. While the value of foreign purchases made by the country contracted by 15% year-on-year in October, that of exports of goods and services fell by 21%. In the first 10 months, the value of imports fell 20.4% to 33,306 million, while that of exports fell 23.3% to $25,476.8 million, compared to the same span of the previous year.

Source: Reuters