Trade between Venezuela and Colombia grew 25.1 % in January of this year, reaching a volume of $80.2 million.

Data published by the Venezuelan-Colombian Chamber (Cavecol) shows that despite the increase, “Venezuelan exports to Colombia experienced a contraction of 7.8 %, remaining at $12.8 million.”

According to Cavecol, this situation is a result “not only of the beginning of the year, but also of the instability in terms of the environment, which is directly related to market confidence and fluidity.”

Among the Venezuelan products whose exports to Colombia grew in January are: fertilizers, iron and steel castings, aluminum and its manufactures, fuels and oils, and organic chemical products.

Regarding imports of Colombian products, a notable increase of 34.2 % was recorded in the first month of 2025, reaching a total value of $ 67.4 million.

“This reflects the high complementarity and efficiency of Venezuelan-Colombian trade in terms of nearshoring, where Colombia can broadly and quickly supply (land transportation and logistics) the demand for Venezuelan products,” indicated Cavecol.

M.Pino

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The Mexican Institute of Finance Executives published figures on Monday, December 2, on the country’s economic contraction during the month of November.

According to the private organization, the sectors with the greatest stagnation are manufacturing and services.

“The IMEF Manufacturing indicator increased 1.1 points in November compared to the previous month, to stand at 48.3 units, the eighth consecutive month in a contraction zone, the private organization reported in a statement.”

In contrast, the IMEF Non-Manufacturing indicator increased 1.2 points last month, standing at 50.5 units.

Despite this slight increase compared to the month of October, both indicators continue to be low. The IMEF considers a strong “absence of dynamism and, therefore, of the possibility that the economy closes the year with a moderate expansion.”

Regarding the growth projections for 2025, the Government of Mexico places the local economy between 2.0 and 3.0% “within the economic package that it submitted to Congress for analysis on November 15.”

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Source: spanish.news.cn

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The Federal Statistical Office published the data on Germany’s gross domestic product for the third quarter of 2024, confirming slower growth than expected.

According to the statistics office, German GDP in this period stood at 0.1 %, which is “a downward revision of 0.1 points compared to the first estimate.”

Compared to the same period in 2023, the contraction of Germany’s economy was 0.3 percent. On the other hand, during the second quarter of this year, German GDP “had contracted by 0.3 % after having grown by 0.2 percent in the first quarter.”

Analysts believe that a crucial factor in the weak growth for the third quarter was private consumption, which increased by 0.3 %. On the other hand, government spending also rose by 0.4 %.

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Source: DW

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Germany’s Federal Statistical Office (Destatis) confirmed the 0.1 % contraction of Gross Domestic Product in the second quarter of 2024.

Ruth Brand, president of Destatis, noted that this contraction comes after a slight increase of 0.2 % in the previous quarter.

Analysts, including the Federal Bank, point out that despite having avoided recession, Europe’s largest economy has not managed to maintain economic expansion.

In a context marked by the high cost of energy, “the rise in credit costs, weak domestic demand and difficulties in international trade,” the German export industry has not been able to take off and give the country a boost.

However, despite the weakness in sectors such as constriction and lack of labor, the Bundesbank remains confident in a slight expansion until September.

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U.S. oil stockpiles experienced a fifth consecutive contraction during the week ending July 26. A drop of 3.4 million barrels was confirmed.

According to analysts, and according to a consensus collected by the Bloomberg agency, the figure is well above the 1.10 million expected.

The country is going through a drop in oil reserves that is not in line with “the slowdown in activity recorded in US refineries, which last week only operated at 90.1 % of their capacities compared to 91.6% the previous week.

For their part, gasoline reserves also fell, by 3.7 million barrels, exceeding the decrease of 1.29 million expected by analysts.”

However, oil production remained at 13.3 mbd. Regarding demand, the volume of refined products fell to 20.7 mbd compared to 21 million the previous week.

For its part, “demand rose a little in year-on-year measurement to 20.48 mbd compared to the 20.19 mbd registered a year ago (+1.4 %).”

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Source: bancaynegocios

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