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Exports from Colombia declined by 1.5% from a year earlier to USD 4.1508 million in October of 2023, marking the eleventh consecutive monthly drop and the slowest rate since February 2023. Shipments fell primarily for agricultural goods (-14.3%), namely coffee (-42.6%), followed by exports for other sectors (-4%), mainly due to lower sales of non-monetary gold (-4.7%). Meanwhile, exports for fuels and products from extractive industries increased (+1.2%), amid the increase in sales of oil, petroleum products, and related products (+28.1%), followed by manufactured products (+5.4%), mainly due to the growth in sales of machinery and transport equipment (+38.2%). Main export partners were the US (26.7% of total shipments), followed by Panama (14.3%), China (5.5%) and Ecuador (5.3%).

Colombian Exports Drop for 11th Month

The yield on the US 10-year Treasury note approached 4.3% from three-month lows hit last week, as traders await key labour market data due this week to asset the monetary policy outlook. The JOLTS report are due Tuesday, ADP figures will be released Wednesday and payroll and unemployment rate is scheduled for Friday. Meanwhile, factory orders fell more than expected in October, in another sign high interest rates and inflation are weighing on the industrial sector. Last week, Fed Chair Powell resisted the market's anticipation of interest rate cuts, yet emphasized that monetary policy is "sufficiently" restrictive, making markets believe that the Fed may have concluded its course of rate hikes.

US 10-Year Treasury Yield Rebounds from 3-Month Low

The Baltic Exchange's main sea freight index, which measures the cost of shipping goods worldwide, was up for an 8th consecutive day on Friday, up 4.8% to 3,346, the highest in one-and-a-half years as rates climbed across vessel segments. The capesize index, which tracks vessels typically transporting 150,000-tonne cargoes such as iron ore and coal, rose 5.5% to an over two-year high of 6,528 points; and the panamax index, which tracks ships that usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased 4.3% to 2,441 points, the highest since July 2022. Among smaller vessels, the supramax index advanced 2.5% to an over-one-year high of 1,526.

Baltic Dry Index Extends Gains to 1-1/2-Year High

Nigeria posted a large trade surplus of NGN 1,438.4 billion in September 2023, compared to a deficit of NGN 7.2 billion in the corresponding month of the previous year. This was the largest trade surplus since June 2023, largely due to a strong depreciation of the naira currency. Exports jumped 115% year-on-year to an all-time high of NGN 3,867 billion, mainly boosted by shipments of crude oil (+132%), agricultural goods (+123.2%), solid minerals (+76.4%) and other oil products (+69.2%). Meanwhile, imports surged 34.5% to NGN 2,429 billion, mostly due to higher acquisitions of other oil products (+85.4%), solid minerals (+76.1%) and manufactured products (+21.2%). Considering the third quarter of 2023, exports increased by 60.78% and imports soared 47.7%, leading to a trade surplus of NGN 1,888.92 billion.

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Ethereum buys from the support level

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Colombian Exports Drop for 11th Month

US 10-Year Treasury Yield Rebounds from 3-Month Low

Baltic Dry Index Extends Gains to 1-1/2-Year High

Nigeria Books Trade Surplus

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United States 3-Month Bill Auction

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Australia Judo Bank Services PMI Final

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Trending Symbols And Events

Most latest news, events and ideas for smart decisions

Latest Ideas

Ethereum buys from the support level

Chainlink another buys from the support

Rising Wedge

Falling Parallel Channel

Latest News

Colombian Exports Drop for 11th Month

US 10-Year Treasury Yield Rebounds from 3-Month Low

Baltic Dry Index Extends Gains to 1-1/2-Year High

Nigeria Books Trade Surplus

Upcoming Events

United States 3-Month Bill Auction

United States 6-Month Bill Auction

Australia Judo Bank Services PMI Final

Australia Judo Bank Composite PMI Final