Tuesday, May 30, 2023

Colombian trade risks due to a possible recession in the United States of America

The recent announcement of a recession in the United States of America, in the last quarter of 2023 or in the first part of 2024, by the Federal Reserve (Fed) of that country, could affect foreign trade goals because of Colombia, especially in part. exports, confirmed by the National Association of Foreign Trade (Analdex).

(Read: The lack of trade balance reached 1,084.4 million).

This year, foreign sales will be close to US$60,000 million. But A projected outlook for the United States indicates that a major trading partner may demand fewer products.

According to Javier Díaz, president of Analdex, “it could be a master effect, since, with the main economy in the world, it would have an effect on countries like Mexico, which would also reduce their purchases from Colombia and other origins.”

(See also: Less than 3% of exporters bound for Africa).

Union leader is shown Two other things that could also affect foreign trade from Colombia

“According to the latest reports, China fell by about 8% in its imports and the dynamizer of the world economy was not what we expected to grow in our exports. Similarly, in the first months of the year there were almost three blockades per day, which hinder the logistics chain both imports and foreign sales,” he said.

(Read: Colombia falls on the World Bank’s list of completed logistics).

It is worth remembering that Colombian exports to the United States; As of the first quarter of 2023, they reached US$3,216 million, with an increase of 0.9% compared to the same period in 2022. Also, a third of Colombia’s non-mining exports are destined for the North American country.

While imports from that market registered US$ 4.420 million and a fall of 2.9% according to Danish figures.

(See: Review of trade agreement with the United States).

Moreover, China’s purchases of Colombia decreased by 13.6%, reaching US$562 millionwhile our imports from that market fell by 33%, reaching US$3,377 million.


Nation World News Desk
Nation World News Deskhttps://nationworldnews.com/
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