Colombia registered a US$181 million trade surplus in November, compared with an $816 million deficit in the same month in the previous year, as exports jumped while imports fell.
In the first 11 months of 2009, the country posted a surplus of US$1.37 billion up from a surplus of US$377 million in the same period in 2008, Colombia’s statistics department, DANE, said Friday.
The country reported a trade surplus of US$471 million in 2008, compared with a deficit of US$824 million in 2007.
The country’s imports in November, including freight and insurance costs, fell 14% from the same month in 2008, to US$2.83 billion, while imports in the first 11 months declined 19% to US$29.84 billion.
The DANE last week reported that the country’s exports – excluding freight and insurance costs – had risen 26% in November to US$2.86 billion.
During the first 11 months of the year, Colombia reported its biggest surpluses with Venezuela, at US$3.41 billion, and the U.S., at US$3.24 billion.
The country registered the widest trade deficit with China, at US$2.31 billion.
China has become Colombia’s second trading partner after the Venezuelan government drastically reduced the imports from Colombia following a diplomatic dispute.