Manufacturing production in Colombia dropped 8.9 percent over a year earlier in March 2020, following a downwardly revised 4.5 percent gain in the previous month and compared with market expectations of a 6 percent fall. It was the largest decline in manufacturing output since March 2013, amid factories closures and lower demand due to the coronavirus pandemic. 29 out of 39 activities registered decreases, in particular non-metallic minerals (-27 percent), beverages (-12.7 percent); coking, oil refining, and fuel blending (-17.3 percent); clothes (-34.3 percent); automotive vehicles (-38.5 percent); and soaps and detergents, perfumes and toilet preparations (-10.7 percent). On a seasonally adjusted monthly basis, manufacturing output plunged 11.7 percent, after falling a downwardly revised 0.3 percent. Considering the first quarter of the year, manufacturing production fell 0.4 percent compared to the same period of 2019.
Industrial Production in Colombia averaged 2.25 percent from 1981 until 2020, reaching an all time high of 17.70 percent in March of 1998 and a record low of -22.70 percent in March of 1999. This page provides the latest reported value for - Colombia Industrial Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Colombia Industrial Output - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020. source: DANE, Colombia
Industrial Production in Colombia is expected to be -5.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Colombia to stand at 1.50 in 12 months time. In the long-term, the Colombia Industrial Output is projected to trend around 3.40 percent in 2021 and 3.60 percent in 2022, according to our econometric models.