In August 2021, a deficit in the Colombian trade balance of $1,624.1 million was recorded, as a result of exports amounting to $3,318.1 million and imports of $4,942.2 as disclosed by the Dane, while it confirmed this in August of last year. It was at $813.1 million. The deficit is higher than the country’s in 2019 when it was $1,419.0 million.
So far this year the mismatch is $9523.8 million USD, While in the same period in 2020, it amounted to 6,177.3 million US dollars, and in the event of an epidemic, 6,889.7 million US dollars.
(Colombia’s trade deficit widens.)
In the case of imports, the state’s purchases increased by 49.8% during the month of 2020, reaching 5,348.5 million US dollars, thanks to the 45.1% increase in the group of manufactures in which it participated. 76.4% of the total value of imports, followed by agricultural products, food and beverages by 15.0%, fuels and extractive industries products by 8.5%, and other sectors by 0.1%.
In August 2020, imports were $3571.2 million while in 2019 it was $3,619.4 million. When comparing the eighth month of 2021 with the same month of 2019, there is an increase of 12.8%, due to higher purchases of chemicals and related products (28.2%) contributing 7.2 percentage points to the group variance.
(Manufacturing and agricultural products boosted imports in July.)
So far this year, Colombian imports amounted to 36802.6 million US dollars and recorded an increase of 31.6% compared to the same period in 2020, in addition to an increase of 4.2% compared to the same period in 2019, related to manufacturing, which amounted to 28406.2 million US dollars, an increase of 33.8% in agricultural product group, Food and beverages were purchased with a value of $5,582.4 million, increasing by 20.9%, while fuels and extractive industries products were worth $2,771.0 million, representing an increase of 32.0%.
In the breakdown by country, purchases from China contributed 23.3% of the total imports; It was followed by overseas purchases from the United States (19.2%), Mexico (6.5%), Brazil (5.8%), Argentina (4.1%), Germany (3.5%) and France (2, 9%).
In August 2021 compared to August 2020, the most significant contribution was to purchases originating in China (23.2%) and the United States (24.1%), which together contributed 12.2 percentage points to the total variance for the month. In contrast, imports from Ireland (-35.4%) contributed a negative 0.2 percentage point to this disparity.
(Colombia, with one of the worst performers in its exports.)
So far this year, China participated in 23.8% of the total number of registrants from January to August 2021; It is followed by the United States, Mexico, Brazil, Germany, India and Spain.
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