Colombia Industrial production April 2021

Colombia

Colombia: Industrial output logs stellar growth in April

June 15, 2021

Industrial output grew at a record-breaking rate of 63.7% year-on-year in April (March: +20.8% yoy), largely on a supportive base effect. Similar to the prior month, April’s print reflected expanding output in 36 out of 39 subsectors. April’s print was largely attributed to a notably faster expansion in beverage processing, manufacturing of nonmetallic mineral products, and clothing manufacturing.

Accordingly, the trend improved solidly, with the annual average variation of industrial production coming in at minus 0.3% in April, following March’s minus 6.3% reading.

FocusEconomics Consensus Forecast panelists expect industrial output to expand 8.5% in 2021, which is up 0.9 percentage points from last month’s forecast. For 2022, panelists see industrial output growing 3.0%.


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Colombia Industry April 2021

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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