Slowdown in Colombian imports and exports within the first half of 2024 – La Campana Newspaper

Colombian imports decreased by 7.1% in June 2024, amounting to US$4.66 billion (CIF).

In June 2024, Colombian imports They decreased by 7.1% in comparison with the identical month in 2023, amounting to a complete of US$4,660 million (CIF), US$335 million lower than in June of the earlier 12 months. Gasoline and merchandise from extractive industries led the decline, with a unfavorable variation of 14.1% and a contribution of -1.6 share factors (pp), adopted by manufactured merchandise, which decreased by 8.2% (a contribution of -6.1pp). When it comes to quantity, imports have been 2.9 million metric tons, which represented a rise of 4.3% in comparison with June 2023.

Due to this fact, the figures for the primary half of 2024 confirmed an annual lower of three.9% in imports, which decreased by US$1,249 million (CIF) in comparison with the identical interval in 2023, which was US$30,572 million (CIF). Agricultural merchandise, meals and drinks led the decline (-8.3%, with a contribution of -1.3pp), significantly in espresso, tea, cocoa and spices (-33.4%), and oilseeds and fruit

(-27.6%). Fuels and merchandise from extractive industries fell by 6.6% (contribution -2.0pp), with constraints in oil and derivatives (-18.8%) and non-ferrous metals (-1.5%). Manufactured merchandise additionally registered a lower of two.7% (contribution -2.0pp), highlighting decrease imports of different transport gear (-47.4%) and fertilizers (-23.2%). As well as, capital items and constructing supplies contracted by 8.3% in comparison with the primary half of 2023.

For his or her half, the Exports decreased by 5.0% in June 2024 in comparison with June 2023, totaling US$3,822 million (FOB), US$200 million (FOB).) is lower than the earlier 12 months. Gasoline and merchandise from extractive industries led the decline with a lower of 10.8%, subtracting 5.5pp from the whole variation. Manufactured merchandise adopted, which created 7.8% and contributed -1.7pp. In distinction, agricultural merchandise elevated by 9.3%, including 1.9 share factors. When it comes to quantity, exports totaled 7.1 million metric tonnes, 18.6% lower than in June 2023.

With this, in line with ANIF, within the first half of 2024 the exports from Colombia It decreased by US$716 million (FOB) in comparison with the identical interval in 2023 (variation of -2.9%), reaching US$23,980 million (FOB). Gasoline and merchandise from extractive industries have been most affected, with a lower of 9.0% and a contribution of -4.7pp, highlighting the decreased export of coal (-30.4%) and minerals and steel waste (- 11.4%). There was a lower of 0.9% in manufactured merchandise, with fertilizers being essentially the most affected product (-27.5%). In distinction, agricultural merchandise grew by 8.1%, pushed by the rise in exports of dairy merchandise and poultry eggs (106.1%), pulses and fruit (44.9%).

When it comes to origin, throughout the first half of 2024 imports from Brazil

(-2pp), France (-0.9pp) and Argentina (-0.8pp) contributed essentially the most to the contraction. When it comes to exports, these to the Netherlands (-2.7pp), Poland (-2.1pp) and Spain (-1.2pp) led the lower.

Thus, in June 2024 Colombia’s commerce stability offered a deficit of US$582.9 million (FOB), which represented a lower of US$147.7 million in comparison with the deficit of US$730.6 million registered in the identical month in 2023. This conduct means that though the deficit has been decreased, the demand home for items continues to be greater than the exports from the nation.

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