Colombia’s industrial exports grow despite weak dollar

Colombian manufacturing increased exports by 21.7% in the first semester of 2011 despite the weakness of the dollar, financial publication Portafolio reported Thursday.

According to data from the government’s statistics agency DANE exports of foodstuffs and beverages grew by 43.1%, of vehicles by 34.7%, of petroleum refining products by 49.2%, of textile products by 29.7%, of medical instruments by 13.6%, of non-metal mineral products by 17.3%, of rubber and plastic products by 11.1% and of leather goods by 9.9%.

Exports of radio, television and communications goods fell by 21.2% and office and IT equipment decreased by 14%.

According to Juana Tellez, chief economist at BBVA Colombia, businesses have been successful in diversifying their exports of  vehicles, foodstuffs, plastics, chemicals, textiles and leather with increased sales to the United States, Central America, Chile, Peru and Brazil.

Bernardo Luis Narajano, director of website said, “although businesses are exporting to traditional destinations, they increase to countries with reduced tariffs and where there is a free trade agreement.”

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