As of October 2024, the accumulated trade balance over the last twelve months reached a new maximum surplus of US$22.547 billion, the
In monthly terms, a trade balance of US$1.814 billion was recorded in October, which exceeded by US$555 million that of the same month in 2023.
Last October, exports value reached US$6.589 billion, increasing by 10.3% compared to the same month of the previous year, due to an 11% increase in the average export price, aligned with the rise in international prices of export metals (such as gold, zinc, and copper).
In turn, these have also pushed up the prices of iron and steel products (copper manufactures) and by higher coffee value to a lesser extent.
Meanwhile, a decrease in exports volume (-0.7%) was recorded.
In turn, imports rose 1.3% year-on-year to $4.775 billion in October, explained by higher foreign purchases of consumer goods (both durable and non-durable) and capital goods.