Colombia - Net Exports

The Bank of the Republic of Colombia reports monthly data on Colombia's trade balance by its' components. Imports and exports are categorized by type of commodity and economic use. Figures are in millions U.S. dollars (Mil. UDS) and are not seasonally adjusted (NSA).

Trade balance is the difference (in monetary value) of a nation's exports and imports. A positive trade balance (trade surplus) indicates a greater monetary value of exports. A negative trade balance (trade deficit) means that the value of exports exceeds the value of imports. 

Major import products are categorized by type of commodity. Imports are also categorized by economic use or destination. Types of economic use or destinations include import of goods, intermediate goods and raw materials, and capital of goods. It is further categorized by type of industry. 

Exports are categorized as traditional and non-traditional. Traditional exports include coffee, coal, petroleum and its' derivatives, and Ferro-nickel. Non-traditional exports include bananas, flowers, non-monetary gold, emeralds, textiles, chemicals, paper, leather, and food products.

Data is subject to revisions and is preliminary for two years. 

In order to match the data from DANE, the Bank of the Republic of Colombia has elected to reclassify the exports of non-monetary gold and emeralds into the group of non-traditional exports.

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