Colombia’s 2015 exports plummet 35% amid low oil prices and in spite of cheap peso
Colombia’s 2015 exports plummet 35% amid low oil prices and in spite of cheap peso
Posted by Adriaan Alsema on Feb 5, 2016
Colombia’s 2015 exports plummeted 34.9% compared to the year before. The drop is partly due to a steep drop in the price of oil, Colombia’s main export product.
Exports were 54.8 billion in 2014, but contracted to $35.7 billion last year.
Colombia’s oil exports were hit hardest, plummeting 50.7% from $28.6 billion in 2014 to $14.1 billion after a major drop in global commodity prices. Coal exports, suffering from the same global price drop, dropped 33%.
However, the export drop was not just felt by the fossil fuel industries alone. Other industries suffered a drop in trade too; the export of food products dropped 5.6% and manufacturing 11%.
More:
http://colombiareports.com/colombias-2015-exports-plummet-32-5-due-to-low-oil-prices/
