Colombia’s Exports Fell 8.2% in November From a Year EarlierOscar Medina
Colombia’s exports fell 8.2 percent to $4.73 billion in November compared with the same month last year, the government statistics agency said today in a report on its website.
Exports rose 5.8 percent in October from the same month last year.
The central bank cited lower export growth in its decision to cut interest rates at four of its last six policy meetings, arguing that a slowdown in the global economy has curbed demand for the Andean nation’s products.
Banco de la Republica cut its benchmark interest rate a quarter point to 4.25 percent in its last meeting of 2012, saying that the Colombian economy is growing below its potential and that inflation and inflation expectations have fallen below the 3 percent midpoint of the target range.