LatAm Daily | Gradual adjustment in Colombia’s external deficit

In Colombia, the current account deficit in 1Q16 was 5.6% of GDP, below 2015’s figure. In the coming quarters the trade balance should improve due to the recovery of oil prices. Also in Colombia, a gradual import substitution process is being signalled by imports (-17.0 YoY in April), with manufacturing and fuel products showing the sharpest drops.

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