Colombia Industry April 2019

Colombia

Colombia: Industrial production swings to contraction in April

June 14, 2019

The industrial sector swung to contraction in April, with output declining 1.3% over the same month of last year, according to data released by the country’s National Administrative Department of Statistics (DANE) on 14 June. This contrasts a 3.2% year-on-year upturn in March.

A breakdown of industrial activities shows that a drop in the production of sugar and panela, which fell more than 35%, led the decline, followed by the manufacture of basic chemical substances and their products, and output of non-metallic mineral products. The downturn was cushioned somewhat by expansions in the preparation of beverages; processing and preservation of meat, fish, crustaceans and molluscs; and manufacture of other chemicals.

Annual average growth in industrial production fell to 3.6% in April from 4.5% in March.

Panelists surveyed for this month’s LatinFocus report expect industrial production to expand 3.0% in 2019, which is up 0.1 percentage points 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 April 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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