In the first four months of 2024, the trade surplus of the foreign exchange balance expanded 38.3% annually to US$868 million

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Bogotá.- 

The year 2023 marked four consecutive years with positive records in the trade balance, which is part of the Banco de la República's exchange balance. In fact, last year's is the highest in history.

The year 2024 started with the same trend and at the end of the first four-month period, the result not only shows a surplus, but it is close to US$1 billion.

In fact, at the end of April of this year, the trade surplus of the foreign exchange balance expanded 38.3% compared to the same period of 2023 to US$868 million.

Twelve months ago, the figure was closer to US$628 million. In all of 2023, as recalled, the positive balance was close to US$1,584 million; in 2022, to US$958 million; in 2021, to US$81 million; in 2020, to US$190 million; and, in 2019, on the contrary, a deficit of US$1,167 million was observed.

The result for the first four months of 2024 was divided as follows: in January, there was a trade surplus of US$203 million; in February, US$238 million; in March, US$106 million; and in April, US$322 million.

It is worth mentioning that last year's result was the highest since there are records of the exchange balance and was due to reimbursements for exports of US$8,966 million and remittances for imports of US$7,382 million.

That is, from 2019 onwards, only trade deficits were observed, while, from 2020 onwards, the trend changed and the final results began to show surpluses.

In the particular case of last year, as already mentioned, the balance was positive by US$1,584 million, a figure that was 65.38% higher than that observed in 2022, when it was US$958 million.

By month, the final figure for 2023 was divided as follows: in January, there was a surplus of US$24 million; in February, US$234 million; in March, US$191 million; in April, US$179 million; in May, US$159 million; in June, US$149 million; in July, US$84 million; in August, US$87 million; in September, US$50 million; in October, US$241 million; in November, US$124 million; and, in December, US$64 million.

It is worth mentioning that the 2023 result was due to drawbacks for exports of US$8,966 million and drawdowns for imports of US$7,382 million.