Tendencia Económica No. 214

Abstract

Editorial: The beginning of 2021 brought with it the general quarantines again, given the increase in cases, deaths and a greater occupation of the Intensive Care Units (ICU) in the main cities of the country. As a first solution to this problem, the mayors resumed the restriction or confinement measures to reduce the number of infections and the occupation of the ICU, which was already reaching its full capacity. However, when carrying out an analysis of the evolution of infections and deaths by cities and towns in Bogotá, it can be stated that there is no conclusive evidence to consider that strict quarantines are the most effective solution to control a pandemic with the characteristics of COVID-19.

Actualidad: The COVID-19 crisis and the drop in the oil prices had a negative impact in the trade flow between Colombia and the rest of the world. In 2020, the exports reduced 21,4% and the imports decreased 17,5% year on year. The former is related to the reduction of the exports of traditional goods, mainly oil and its products, the fall of global economic activity and the slowdown of our principal trade partners. Besides that, the result in imports is due to the Colombia´s GDP contraction and the currency depreciation. Regarding the trade balance, it placed at US$ -10.129 million FOB and as percentage of GDP at -3,7%, this value is still below other Latin-American countries.