Diplomatic crisis affects leathergoods exports
03/09/2010
The overall figures for the month, according to state statisitics agency DANE, showed export revenues of $3.1 billion, compared to just less than $2.9 billion for the same month last year. This represents growth of 8.8%.
However, a number of industries that depend heavily on trade with Venezuela, including leather and footwear, had a torrid month. The value of leathergoods exports to all markets fell by 82% in July compared to the same month last year. Footwear exports fell by 54%.
A diplomatic crisis blew up between Colombia and Venezuela in July over allegations that Venezuela had given shelter to some participants in Colombia's internal conflict. The two countries broke off diplomatic relations and only restored them on August 10.
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