FX.co ★ Colombia Trade Deficit Hits 19-Month High

In May 2025, Colombia experienced a significant expansion in its trade deficit, reaching $1.776 billion compared to $1.084 billion in the previous year, marking the highest gap since October 2022. This widening deficit was largely influenced by a 10.8% rise in imports, which totaled $6.135 billion. The increase in imports was primarily fueled by a 14.1% surge in purchases of manufactured goods. On the other hand, exports declined by 2.1% to $4.358 billion, mainly attributed to an 18.7% reduction in shipments from the fuel and extractive industries. The global trade environment continues to face challenges from external pressures, notably the United States' newly implemented tariff policy, which is anticipated to sustain a 10% tariff on goods imported from Colombia.