July exports drop 23.5% on year

Colombian exports in July dropped 23.5% compared to the same month last
year. Export to Venezuela dropped 28.8% amid threats by the country’s
President Hugo Chavez to freeze trade.

According to Colombia’s state statistics agency DANE, income through export in July was US$2.9 billion less than the year before.

Exports to the United States, Colombia’s most important exportation market, dropped 19.7% on the year.

Earlier this week, exporters claimed huge losses because of the diplomatic row with Venezuela over the expansion of U.S. military activity in Colombia.

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