Colombia Industry October 2018


Colombia: Industrial production growth accelerates in October

December 14, 2018

According to data released by Colombia’s National Administrative Department of Statistics (DANE) on 14 December, the industrial sector accelerated notably in October, growing 5.8% over the same month of the previous year. This was up from the 2.9% year-on-year expansion recorded in September.

A breakdown of the industrial activities showed that October’s upturn was thanks to a marked increase in the manufacture of pharmaceutical products and medicinal chemicals. A double-digit rise in the manufacture of plastic products also contributed to the improved result, along with more modest upturns in production of beverages, and coking, oil refining and fuel blending. Expansion in these categories more than offset a marked downturn in the manufacture of wood and its products.

Annual average growth in industrial production rose to 2.5% in October, from 2.0% in September.

Colombia Industrial Production Forecast

Panelists surveyed for this month’s LatinFocus report expect industrial production to expand 2.9% in 2019, which is up 0.2 percentage points from last month’s forecast. For 2020, the panel expects industrial production growth to accelerate to 3.2%.


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Colombia Industry Chart

Colombia Industry October 2018

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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