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Colombia upsets forecasts with $214 million trade deficit

Friday, September 14, 2012

Colombia’s imports rose 13 percent to $5.16 billion in July compared with the same month last year, the government statistics agency said in a report on its website.

Colombia posted a $214 million trade deficit in July. The trade deficit compares with a median forecast for a $129 million surplus in a Bloomberg survey of 10 analysts.

Spending on imports has been boosted by an 8.1 percent appreciation in the Colombian peso this year, the fifth-biggest gain among 170 currencies tracked by Bloomberg, boosting spending on imports.

Source: Bloomberg