Sunday, October 1, 2023

Colombian industrial production fell by 7.2% in July

The National Administrative Department of Statistics’ monthly manufacturing survey, Dane, showed that real manufacturing output fell 7.2% annually in July, while real sales fell 6% and employed personnel fell 1.4%. With this result, five months of labor have been completed.

Analyzing the indicators so far this year (as of July), real manufacturing output showed a fluctuation of -3.3%, real sales -3.6% and staff employed -0.2%.

Of the 39 industrial activities included in the report, 33 experienced negative fluctuations in real production, resulting in a negative impact of 8.9 percentage points on the total annual fluctuation. Only six subsectors showed positive variations, which together contributed 1.6 percentage points to the total variation.

The activities that showed positive changes were: manufacturing of bodies for motor vehicles and trailers (10.7%); Manufacture of machinery and equipment (5.3%); other manufacturing industry (6.6%); sugar and panela production (7.7%); coking, oil refining and fuel blending (10.4%); and beverage production (5.8%).

While the activities that showed the largest negative fluctuations were: manufacturing of rubber products (-52.5%); Manufacture of motor vehicles and their engines (-39.3%); basic iron and steel industry (-30.5%); Manufacture of other types of transportation equipment (-26.7); as well as spinning, weaving and finishing of textile products (-24%).

The metropolitan area that contributed the most negatively to the annual variation in real production was Valle de Aburrá, with a variation of -8.1%, a decrease of 1.2 percentage points from the total national variation in July (-7.2%) corresponds.

The survey also covers 14 departmental domains. This data showed that the departments with the largest decline were Córdoba (-33.7%), followed by Valle del Cauca (-9.8%) and then Antioquia (8.8%). In fact, no department showed positive variation.

Retail trade

In this sense, the Monthly Commerce Survey report recorded that real retail sales fell by 8.2% compared to July last year. However, the number of employees grew by 3.6%.

And although there was a decrease, compared to July 2019, there was an increase in sales of 10.7% and an increase in the number of staff employed by 2.4%.

The negative variation was caused by thirteen product groups that experienced negative annual variations in their real sales. Only six product groups recorded sales increases.

Comparing the period between January and July with the same period in 2022, sales fell 5.6%. If the same comparison is made with 2019, the negative deviation is larger, 16.3%.

Nation World News Desk
Nation World News Desk
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