Colombian exports surged in August, continuing a trend that has seen a sharp increase in overseas sales largely driven by commodities such as oil and coal.
Exports for August jumped 50.5% from a year earlier to $4.96 billion, the government’s statistics agency, known as DANE, reported Wednesday. The August data extend a drastic surge in exports throughout the year. For the first eight months of the year, exports stood at $37 billion, a 44% increase from the same period in 2010.
Colombia’s traditional exports, which include oil, coal, coffee and ferronickel, rose 55.6% in August from last year. Nontraditional exports, such as manufactured products and agricultural goods, also had a strong showing and rose 40% in August.
If the trend of higher exports continues for the rest of the year, Colombia is sure to break the 2010 mark of $39.8 billion, which was a record for the country.
