Colombia Industry March 2019

Colombia

Colombia: Industrial production accelerates in March

May 15, 2019

Colombia’s industrial sector gained traction in March, growing 3.2% over the same month of last year, according to data released by the country’s National Administrative Department of Statistics (DANE) on 15 April. This was up from a 2.8% year-on-year expansion in February.

Looking at a breakdown of industrial activities, manufacture of pharmaceutical products and medicinal chemicals was among the fastest growing, along with the production of soaps and detergents, perfumes and toilet preparations. Upturns in these sub-components more than offset sharp contractions in the manufacture of basic chemical substances and their products, and the preparation of sugar and panela.

Annual average growth in industrial production rose to an over two-year high of 4.5% in March, from 4.0% in February.

Panelists surveyed for this month’s LatinFocus report expect industrial production to expand 2.9% in 2019, which is unchanged from last month’s forecast. For 2020, the panel expects industrial production to also grow 3.0%.


Author:, Economist

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Colombia Industry March 2019

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


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