Colombia's trade deficit expanded sharply in February 2025 to reach $1.24bn, a 63 per cent increase from the same month in 2024, driven by a significant rise in imports, according to the National Administrative Department of Statistics (DANE), El Tiempo reported.

Total imports climbed 10.5 per cent year-on-year to $5.33bn, marking the eighth consecutive monthly increase. The primary contributor was a 51.7 per cent surge in fuel and extractive industry imports, totalling $685.2mn, largely due to increased purchases of petroleum and related products. Manufactured goods imports also rose by 5.6 per cent to $3.83 bn, with notable growth in chemicals and transport equipment. Agricultural, food and beverage imports reached $804.7mn, up 9.9 per cent from the previous year.​

China remained Colombia's leading import partner, accounting for 26.5 per cent of total imports in February, followed closely by the United States at 24.3 per cent. The increase in imports from China was driven by higher acquisitions of semiconductors, polycarbonates and motorcycles.​

The widening trade deficit reflects a 0.8 per cent decline in exports to $3.78bn, influenced by reduced shipments of coal and petroleum products. Over the first two months of 2025, the cumulative trade deficit reached $2.52bn, a 36.5 per cent increase compared to the same period in 2024.​

This growing deficit may pressure the peso and challenge Colombia's current account balance, especially amid global economic uncertainties and domestic policy shifts.