In Colombia, FOB exports reached USD $3.34 billion in March, slightly lower than our expectations and the market average (USD $3.35 billion). Thus, external sales registered a 1.4% increase compared to the same period last year. The export performance was mainly explained by the 13.1% growth in external sales of oil and crude oil products, which contributed 7.9 percentage points to total growth. However, exports of agricultural goods, food, and beverages contracted significantly (19.3%) and totaled USD $635 million. This was due to lower external sales of coffee and bananas. Meanwhile, exports to the US fell 17.3% year-on-year in March, while China increased its demand for Colombian products by 97.4%.
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