Colombia’s industrial growth in the second half of 2011 exceeded that seen in Latin America by 5.9%, according to the Joint Industrial Opinion Survey, reported Colombian investment website Portafolio Thursday.
The report stated, “If we compare the situation in other countries, we find that Colombia grew ahead of countries like Brazil, Peru, Chile and Mexico, and in the second half was the fastest growing country in the region.”
Colombia also displayed other positive economic signs, with foreign trade stimulated, interest and inflation kept under control and a favorable investment “climate of trust” maintained.
Among the positive highlights in the report were a 10.8% growth in retail trade, a 42.3% growth in overall exports and an 18.2% growth in non-traditional exports.
Colombia’s encouraging economic performance also contributed to the recovery of the investment grading held by the Civets group of emerging economies, which includes Colombia, Egypt, Indonesia, South Africa, Turkey, and Vietnam. This is particularly promising given that major markets such as Spain, Italy and the United States remain troubled.