Colombia's trade deficit widened in July, a result of a surge in imports combined with a drop in the prices of commodities that are the main source of foreign revenue for the country. Colombia is still posting a $3.18 billion trade surplus for 2012, although it is narrowing. Celfin Capital says that narrowing trend is likely to continue in the coming months, although at a much slower pace, mainly as a result of "lingering bottlenecks" in Colombia's oil production. The injection of liquidity by the US Federal Reserve and new market optimism should provide a boost to commodity prices and benefit Colombia's trade balance, Celfin says.
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