Imports to Colombia continued to surge during May, fueled by an improved economic landscape and higher consumption, especially in the automobile sector, figures published Thursday by the government show.
Imports in May surged 55% from a year earlier to $4.9 billion, the government’s statistics agency, known as DANE, said in a report. Imports for the January-to-May period reached $21.32 billion, a 40.5% increase from the same period last year, the agency said.
Automobile imports climbed 90.7% to $524.2 million in May.
Imports appear to be benefiting from an improved economic landscape in Colombia. Authorities expect the economy to grow by as much as 6% this year, largely driven by consumer demand.
Colombia posted a $12.7 million trade surplus in May, the agency said.