Colombian Manufacturing Sector Sees Modest Recovery in October

The manufacturing sector in Colombia showed signs of recovery in October 2024, with production increasing by 1.1% after two consecutive months of decline.

The National Administrative Department of Statistics (DANE) released its Monthly Manufacturing Survey, which detailed the performance of various industrial activities.

According to the report, from January to October 2024, real manufacturing production grew by 1.1%. However, real sales saw a modest increase of 0.6%, while employment in the sector experienced a slight decline of 0.3%.

This mixed performance highlights the ongoing challenges faced by manufacturers, even as some sectors begin to recover. From August to October 2024, the sector experienced a rebound.

Notably, three sectors—coffee processing, panela and sugar production, and the manufacture of various types of transportation equipment—reported positive changes across all key metrics: production, sales, and employment.

DANE’s survey covered 39 industrial activities, revealing that 25 of them recorded positive production variations. This contributed an overall increase of three percentage points to the total variation.

Conversely, 14 subsectors reported negative changes, which detracted 1.9 percentage points from the total. On a regional level, out of the 14 departments included in the survey, ten showed positive production variations, adding a total of 1.9 percentage points to the national variation.

Risaralda led these regions with significant growth, followed closely by Caldas, Cauca, Tolima, and Bolívar. In contrast, Bogotá’s production increased by only 0.4%.

Boyacá experienced the largest decline among the departments, followed by Atlántico, Córdoba, and Santander. These figures illustrate a complex landscape for Colombia‘s manufacturing sector.

While certain areas and industries are experiencing growth, others continue to struggle. The data emphasizes the importance of self-reliance and adaptability in navigating economic fluctuations.