Colombia Industrial production March 2022

Colombia

Colombia: Manufacturing production growth speeds up in March

May 13, 2022

Manufacturing output rose 12.3% year-on-year in March (February: +10.6% yoy). Looking at the details of the release, 32 out of the 39 total subsectors recorded growth in March, matching February’s result. March's acceleration was largely driven by clothing manufacturing output and beverage production expanding at brisker paces.

Still, annual average manufacturing output growth fell to 17.4% in March (February: +18.1%). This signals a worsening trend in the manufacturing sector.

FocusEconomics Consensus Forecast panelists expect manufacturing output to expand 5.0% in 2022, which is from last month’s forecast. For 2023, panelists see manufacturing output growing 2.2%.


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Colombia Manufacturing March 2022

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


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