In February 2021, exports totalled $2.9 billion while imports $3.6 billion, resulting in a $714 million deficit, reported Dane. Yet, it was $116 million lower than the same period last year. Imported fuels and other products related to the extractive industries had the largest drop at 24.2% among imports.
The Bogota Chamber of Commerce and the Korean Chamber of Commerce and Industry will create a bilateral business council to strengthen trade relations between the two countries. In 2020, Colombian exports to South Korea rose by 18% to $ 571 million, while South Korean imports to Colombia decreased by 10.71% to $676 million.
In the first quarter of 2021, international travellers to Colombia dropped by 75.2%, compared to the same period last year. Likewise, Colombians travelling abroad decreased by 41.1%, reported the Colombian Association of Travel and Tourism agencies. Border closures, travel quarantine, slow vaccination rates and spikes in cases, among other factors, have contributed to this reduction.
Today, the Colombian Ministry of Finance carried out its largest financing operation. It issued both $2 billion in 11-year maturing bonds with a 3.356% yield rate and $1 billion 20-year maturing bonds at 4.235%. The operation attracted purchase orders for a total of $ 10.2 billion, 3.4 times higher than the amount issued. According to the government, the capital will be allocated in the General Budget of the Nation for the period 2021.
Colombian bank Finandina announced its first bonds for the local market. The operation has an estimated value of $22.5 million (Co$ 100 billion), but it could be increased to $55 million (Co$ 200 billion). Bonds of two and three years of maturity will be offered.