Colombia’s Exports Declined 1.9% in June From Year Earlier

Colombia’s exports fell 1.9 percent to $4.6 billion in June compared with the same month last year, the government statistics agency said today in a report on its website.

The central bank cited the slowing world economy and reduced prices for Colombian exports in its surprise decision to cut interest rates last month for the first time since 2010.

Central bank chief Jose Dario Uribe told lawmakers in Bogota yesterday that he would like the peso to be “a bit more devalued.”

The European debt crisis has affected China, leading to lower prices for Colombia’s commodities exports, Uribe said.

To contact the reporter on this story: Matthew Bristow in Bogota at mbristow5@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net