In the first six months of 2014, industrial production and sales rose in Colombia by 1.7% and 2.3%, respectively, buoyed by strong internal demand inside Latin America’s fastest growing economy.
Sales from Colombian companies to their domestic counterparts for industrial sector products, which range from chemicals to clothing, rose in every sector except refined petroleum products.
The strength of internal sales for Colombian products reflects a mix of both increased domestic demand and a range of export difficulties in reaching fellow Latin American economies experiencing slower growth. In a recent world economic outlook by the IMF, Colombia’s economy is expected to grow 4.6% this year, while Latin America as a whole is predicted to grow just 1.3%.
Colombia’s international sales were down in half of its industrial the sub-sectors.
However, production rose in all but four of industry’s components, giving weight to inventory and capacity utilization for many companies.
“The important thing is that we have a friendly environment to growth, investment, entrepreneurship, innovation and the creation of productive and decent jobs. In creating this enabling environment has not done the homework,” according to the report by ANDI, the business think-thank who carried out the data survey.
Data on Industry
Sources
- ESTE AÑO, LAS PROYECCIONES DE CRECIMIENTO INDUSTRIAL DIFÍCILMENTE SE CUMPLIRÁN (ANDI)
- Producción industrial creció 1,7% en agosto (Vanguardia)