Colombia's Trade Deficit Is Ballooning

[Judi Lynn]

Colombia's Trade Deficit Is Ballooning
Portia Crowe
Dec. 4, 2014, 6:13 PM

The oil crash will hit Colombia hard.

The South American country was already in trouble before last month’s sudden drop in oil prices: as of September, the trade deficit had exploded to $449.6 million this year, up from $66.2 million in that period last year, Reuters reported.

That’s an expansion of 579 percent, all other things being equal.

Oil exports are Colombia’s number one source of foreign exchange, according to Reuters. It's the fourth-largest oil producer in the region, the Financial Times reported, and crude makes up more than half of the country’s exports.

So the crash is likely to have harmful long-term effects.

More:
http://www.businessinsider.com/colombias-trade-deficit-is-ballooning-2014-12#ixzz3KynvqsJ7

[COLGATE4]

1. Imagine what the impact of the drop in oil prices

will have on Venezuela.

[Judi Lynn]

2. Might as well address the actual subject if you have a moment in your busy schedule. n/t

[Bacchus4.0]

3. it can't be good for Ven if its bad for Colombia. No coffee or ag industry

http://www.businessinsider.com/the-lights-are-going-out-in-venezuela-2014-12

[COLGATE4]

4. It will be devastating to Venezuela's already shaky economy.

They've borrowed about all they can from China and are selling bonds off to whoever will buy them. After that...

[Bacchus4.0]

5. exile in Cuba nt