Colombia's May exports up 25.7 pct year-on-year

Timba says on Jul 24, 2008, 07:16:

The number is misleading without further breakdown. ie....did the number and volume of products(finished goods) increase or the value due to 1. currency 2. price of commodities ?

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GregYohn says on Jul 24, 2008, 09:08:

Hola!

Flower exports are down! Don't expect banana exports to be increasing over last year.

12VOIP.com gives free calls to Colombia.Greg

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tasco66 says on Jul 24, 2008, 09:24:

What this means is that there is more money coming in the country as a whole and it will keep the Peso strong

Bravo, Presidente Uribe for the perfect operation!

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Timba says on Jul 24, 2008, 10:28:

Saw a program where alot of latinos (professional and business class) were returning home rather than stay in the U.S. due to immigration issues, the currency and the growing opportunities in the country they had left.

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Ctg Bound says on Jul 24, 2008, 11:23:

Timba,

The increase will be mostly down to commodity price increases.

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Cerealkiller says on Jul 24, 2008, 12:56:

That's just because of the high prices of oil. Colombia has been banking on oil, while its main industries are virtually ailing: Flowers, textiles and coffee are going through some of the hardest times ever and analysts are not sure they will ever recover.

Conservatives are not necessarily stupid, but most stupid people are conservatives -John Stuart Mill

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billyb says on Jul 24, 2008, 13:54:

Don't forget king coal, Colombia should be recieving 5 billion USD this year from coal exports, 10 times what the income from it was 5 years ago.

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truthseeker says on Jul 24, 2008, 18:36:

"May exports up 25.pct" Is that cocaine ??

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robi666 says on Jul 24, 2008, 21:29:

"The number is misleading without further breakdown. ie....did the number and volume of products(finished goods) increase or the value due to 1. currency 2. price of commodities ?"

Money laundering, they wrote on Portfolio a few months ago...

"I am a citizen of the most beautiful nation on earth. A nation whose laws are harsh yet simple, a nation that never cheats, which is immense and without borders, where life is lived in the present."

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truthseeker says on Jul 25, 2008, 21:14:

Honestly,If Colombia took out the cocaine profits and laundered money, where would this country be?

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billyb says on Jul 25, 2008, 21:27:

actually, the controls are so harsh now a days, that laundering is not what most people think it is. Every sizable transaction is so scrutinized that they have to jump through hoops to get it through. That is why so many narcos are just washing their money in other latin countries that have so far been more than amianable to the dirty money and are willing to turn a blind eye por una untadita. My best friend in cali was a forensic accountant for the DAs office and the stories he tells.... He was offered the provervial "plomo o plata" and he turned them down, until he recieved pics of his wife in cross hairs (yes, not an urban myth), so he got asylum in holland and is now a war crimes investigator for the UN in the former Yugoslavia, and let me tell you the stories there, make Colombia pale by comparison.

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gringoloid says on Jul 26, 2008, 14:53:

inflation rose to 7.2% last month and they raised a key interest rate by a quarter point.......now at 10%.

http://colombiareports.com/2008/07/25/colombia-raises-rate-to-10-as-in...

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gringoloid says on Jul 26, 2008, 14:57:

interesting, but it's the second paragraph below that i find most intriquing. a quarter point change would be symbolic unless they keep on doing more of the same. how many think they'll keep on raising?
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""Colombia’s gross domestic product expanded 4.1 percent in the first quarter, down from a 9.1 percent expansion a year earlier. Retail sales fell 0.4 percent in May, while industrial output fell 4.3 percent, both reports surprising all 16 economists surveyed by Bloomberg who expected increases of 2.18 percent and 6.05 percent respectively.

“The bank has to take into consideration that over-tightening could end up pushing the economy into a hard rather than soft landing,��? said Goldman Sachs Group Inc. economist Alberto Ramos""

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tasco66 says on Jul 27, 2008, 14:05:

"so he got asylum in holland and is now a war crimes investigator for the UN in the former Yugoslavia, and let me tell you the stories there, make Colombia pale by comparison."

Hey, that's in Europe, right? I guess they don't like to talk about it much....

Bravo, Presidente Uribe for the perfect operation!

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tasco66 says on Jul 27, 2008, 14:12:

Please note that money laundering as billyb noted is a thing of the past in Colombia. In any case for our usual self appointed PBH economists, please note that money laundering is not and has never been considered as an export in Colombia or in anywhere in the world. Also cocaine exports are not included in the official export figures of Colombia.

What must be noted is that under Uribe’s presidency, the production of commodities such as oil, natural gas and coal have soared and most notably in 2004, Colombia became a net energy exporter.

On the other side, the neigbour socialist economic model (or socialist miracle for some here) has seen oil production fall since Chavez took power:

“Official PDVSA statements indicate that the company lost $3.6 billion last year (2007), according to a study by the nonprofit Economic Research Center for the Caribbean, which is based in the Dominican Republic.

Figures from the International Energy Agency research center show an even bigger loss last year, $7.9 billion, which would be astonishing given skyrocketing oil prices. The difference comes from widely divergent estimates of PDVSA's production: The IEA calculates that Venezuela produces about 2.4 million barrels of oil per day, about a quarter less than PDVSA says it's pumping out.

Most independent experts use the IEA's figures, which indicate that production at PDVSA has dropped by 800,000 barrels per day since 1997. And despite the current high oil prices, PDVSA appears to be running out of cash."

Maybe it has something to do with this:

“The lack of foreign investment and know-how is particularly acute, analysts said, since Chavez fired 23,000 PDVSA employees during and after a 2003 strike.

They've been replaced in large part by political appointees, and the company's employee rolls have swollen to 115,000, almost three times what they were a decade ago, two former PDVSA officials said."

http://www.mcclatchydc.com/226/story/31187.html

Bravo, Presidente Uribe for the perfect operation!

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