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The dollar appreciated globally in view of the presidential elections in the United States. Imports were reported with an annual growth of 4.6% to total USD 5,533 million in August.

On Monday, the dollar appreciated globally, registering a general appreciation against the currencies of the G7 and Latin America. The factor that weighed most on the day was the political factor in view of the presidential elections in the United States on November 5. In particular, The Economist magazine, like other media and analysts have been reporting, pointed out, for the first time in two months, that Mr. Trump was the winner in the electoral contest. The most recent calculation of the magazine also shows a significant increase in the probability of victory in favor of Mr. Trump, who would exceed the threshold of electoral college votes with a margin of six votes (276 vs. 270). In line with global behavior, the exchange rate closed market negotiations with a 0.1% devaluation to $4,275.

Meanwhile, on Monday, DANE published the import and trade balance data for the month of August. In the month, imports reported a growth of 4.6% to USD5,533 million (M), while the trade balance deficit stood at -USD1,313 M. This result is in line with the recovery of the level of household spending, which has not only been reported in the GDP on the aggregate demand side for the second quarter of 2024, but also in the gradual recovery described by retail sales as of August (growth of 5.2%). In this context, in the year-to-date January-August, the trade balance deficit stood at -USD6,888 M, registering a slight reduction of USD31 M compared to the same period last year.

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