Colombia Industrial production December 2020


Colombia: Industrial output grows at fastest pace in ten months in December

February 12, 2021

Industrial output increased 1.5% compared to the same month of the previous year in December 2020, contrasting November's 0.2% drop and marking the best result since February 2020. December’s result reflected a relatively broad-based improvement, with 26 of 39 subsectors reporting growing output in December, as opposed to 17 subsectors with rising production in November. Looking at the details of the press release, December’s upturn was largely driven by higher output of metal products, as well as a stronger growth in the manufacturing of plastic products.

Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 8.0%, down from November's minus 7.8% reading.

FocusEconomics Consensus Forecast panelists expect industrial output to expand 6.2% in 2021, which is down 0.3 percentage points from last month’s forecast. For 2022, panelists see industrial output growing 3.8%.


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Colombia Industrial production Chart

Colombia Industry December 20 20

Note: Year-on-year changes and annual average growth rate of industrial production index in %.
Source: Colombia National Statistical Institute (DANE) and FocusEconomics calculations.

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