In May, industrial production (excluding coffee threshing) contracted 0.2% over the same month last year. The decline was smaller than both the revised 2.5% drop observed in April (previously reported: -1.6% year-on-year) and market expectations of a 0.6% decline. The contraction marked the third consecutive drop in industrial output, following 28 consecutive months of positive readings. The monthly figure reflected declines in 30 out of the 48 sub-sectors composing the index, with production of chemicals as well as of textiles recording the largest losses. As a result of the monthly drop, the trend continued to deteriorate, with annual average variation in industrial production falling from 3.8% in April to 3.2%.
Industrial production declines for a third straight month
July 21, 2012
Looking for forecasts related to Industry in Colombia? Download a sample report now.
Colombia Industry Chart
Note: Year-on-year changes of industrial production and annual average growth rate in %.
Source: Colombia National Statistical Institute (DANE) and FocusEconomics calculations.
Colombia Economic News
October 7, 2016
In what was a narrow and shocking result, Colombians rejected the peace agreement between the government and the FARC at the 2 October referendum.
September 30, 2016
In August, exports grew 7.0% over the same month last year, which sharply contrasted the 27.3% plunge recorded in July.
September 30, 2016
The seven-member board of the Central Bank (BanRep) unanimously decided to keep the reference interest rate unchanged at 7.75% at its 30 September monetary policy meeting.
September 16, 2016
Industrial production unexpectedly shrank 6.2% annually in July, which contrasted the 6.7% increase seen in June.
September 5, 2016
The Colombian economy continues to adjust to low oil prices two years after they first started to collapse.