Despite the epidemic, the trade deficit in 2020 saw a slight decrease – sectors – the economy

Despite the epidemic, the trade deficit in 2020 saw a slight decrease – sectors – the economy

In the middle of the pandemic Due to the Coronavirus, the upward trend brought about by the country’s trade deficit in recent years has stopped and even showed little improvement, according to a report National Administrative Statistics Service (Danish).

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According to the report, in 2020, Trade balance Close at $ 10,129 million, 6 percent less than the red balance recorded in 2019 of $ 10,782 million, which had jumped significantly from the 2018 deficit of $ 7,040 million, which was preceded by a trade deficit of $ 5,940 million in 2017. .

The result was 2020 product exports With a total of $ 31.057 million, which is an item less than $ 39.489 million in 2019, and Imports For $ 41,185 million free at the port (the value of cargo does not include freight and insurance, known as the acronym FOB), which is down 18.1 percent annually.

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According to what Dane On handing over the balance of the country’s purchases abroad, when including Costs, Freight and Insurance (CIF, for its English acronym), Colombia’s imports recorded a 17.5 percent decrease in 2020 compared to the 2019 close.

According to the report, Colombian imports last year amounted to 43,488 million dollars.

“This finding was explained mainly by a decrease Imports Of the non-edible raw materials, excluding fuel (-14.9 percent), which contributed a negative 1.5 percentage points to the group’s variance, “the entity indicated.

He also indicated that foreign purchases in the group of fuels and extractive industries products, in the period from January to December 2020, amounted to 2947 million dollars, a decrease of 45 percent compared to the same period in 2019.

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“This behavior is mainly due to the decrease in imports of mineral fuels, lubricants and related products (-51.4 percent), which contributed a negative 43.4 percentage points to the total variance of the group,” he said.

According to the import data, goods from US origin contributed 24.2 percent of the total recorded in the January-December 2020 period; Followed by the ones that originated from China, Mexico, Brazil, Germany, France and India.

Regarding the behavior Imports Last December, these recorded a variation of 1.6 percent compared to the same month in 2019.
This behavior was mainly attributed to a 4.1 percent increase in the manufacturing group.

Economy and business

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