May 19, 2024
Colombian economy

Colombia’s Industrial Manufacturing Rebounded Sharply in 2016: DANE

Colombia’s national economic statistical agency — Departamento Administrativo Nacional de Estadística, DANE — reported February 14 that its latest monthly manufacturers’ survey (Encuesta Mensual Manufacturera, EMM) shows a strong industrial rebound for full-year 2016.

According to the survey, industrial manufacturing rose 3.5% year-on-year in 2016, compared to just 1.8% in 2015 and 1.5% in 2014.

Colombia’s industrial growth stands in sharp contrast to the disastrous economic trends in neighboring Venezuela and Brazil, and the contracting economic situation in Ecuador.

Meanwhile, 2016 industrial sales rose 4.2% year-on-year in Colombia – up from just 1.6% in 2015 — while 2016 industrial employment rose 0.7%, according to DANE.

In total,  21 of the 39 industrial sectors surveyed by DANE showed positive growth in 2016, led by petroleum refining (up 19.4%), beverage manufacture (up 7.6%), metal products (up 9.8%), milling (up 8.7%) and soap/detergent manufacture (up 3.7%).

The monthly EMM surveys are a key tool for measuring Colombia’s gross domestic product (GDP), according to DANE.

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