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.
Author: Nihad Ahmed, Economist