Colombia–Unites States Trade in 2013
In 2013, Colombia ranked 20th as a destination for U.S. exports with USD 18.6 billion. U.S. exports to Colombia increased 14% compared to 2012 – the highest increase in U.S. exports to one of its top 25 export destinations for the year. U.S. imports from Colombia dropped 12% in 2013 to USD 21.6 billion according to the U.S. Census Bureau, while U.S. imports worldwide declined by USD 8.5 billion.
GDP Growth Estimates for 2014
Colombia’s National Planning Department estimates the Colombian economy will grow 4.7 percent this year, based on higher inflows of Foreign Direct Investment and the growth of sectors such as transport, trade, construction, mining, and financial services. The Colombian Central Bank projects a GDP growth between 3.3-5.3 percent.
February Inflation 0.63%
February’s inflation was 0.63 percent, 0.19 percent higher than the rate in February 2013. The accumulated inflation rate for 2014 is above market projections at 1.12 percent. Education (3.82%), housing (0.61%), health (0.56%), and food (0.51%) had the highest inflation rates in February.
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