Colombia posts August trade deficit of $111.6M: Dane

Colombia posted a trade deficit in August as an increase in imports, driven by purchases of foreign cars, outpaced sales abroad.

The country posted an $111.6 million trade deficit in August, the government’s statistics institute, known as DANE, said Wednesday. The country registered a $1.78 billion trade surplus for the first eight months of the year, DANE said.

Colombian imports climbed 42% in August from a year earlier to $3.6 billion, with vehicle purchases abroad surging 43.8%, DANE said.

Imports in the first eight months of 2010 are up 19%, to $25.3 billion, as an economic recovery this year and the appreciation of the peso are boosting consumption and purchases abroad. (Darcy Crowe / Dow Jones Newswires)

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