Retaking the growth rate that the economy had before the pandemic has been the objective of both the National Government and local governments, for this reason, the Cali Chamber of Commerce (CCC) prepared a departmental economic reactivation indexbased on the main performance indices.
(According to the Stack, formal jobs increase to 10.3 million).
To build the indicator, the CCC was inspired by The Economist’s Global Normality Index, and compiled information from different official sources such as Dane, figures from the Chambers of Commerce themselves and Aerocivil, among others, to see how the level of reactivation compared to 2019 of 11 regions in which information was found available for 9 variables: employment, exports, imports, balance of savings accounts, net credit portfolio, new businesses, home sales, industrial production and mobilized passengers.
“In line with the growth of the country’s economy, the regions are also reactivating, but within the departments there are also different levels of reactivation,” said Carlos Andrés Pérez, economic and competitiveness director of the Cali Chamber of Commerce.
The measurement takes the pre-pandemic scenario as a base of 100, from which it compares recovery levels.
(Anato: the country’s passenger movement will exceed 2019 levels).
THE RESULTS
Within the CCC indicator, the region that most stands out in its recovery is Bolívar, which registers an index of 121.8, which indicates a recovery of 21.8% with respect to its pre-pandemic level.
Within the main indicators of Bolívar, the balance of savings accounts is already 87.2% above its pre-pandemic benchmark, exports are already 31.3% above their 2019 level, and industrial production has an indicator of 109.1, which implies a reactivation 9.1% higher than the level they had before covid.
The second region with the best reactivation indicator is Atlantic with 117.6, that is, 17.6% above its 2019 level. There, industrial production is already 14.6% better than in 2019, and home sales are 44.1% higher.
According to Perez, the Valle del Cauca stood out for its recovery in construction, home sales and employment, since they have been the drivers of this recovery, which is evidenced, for example, by home sales, which already exceed 68.2% of the pre-pandemic record. The department is thus with a level of 116.2 in its indicator, or with a 16.2% recovery from the pandemic.
Antioch ranks fourth in the CCC analysis, with an indicator of 115.8. This region registers 108.9 in industrial production, 122.9 in imports and 124.4 in net credit portfolio, to mention a few.
(Transport, textiles and hotels, among the protagonists of GDP).
“In Antioquia we see a reactivation driven by gold exports, which due to volume and price have allowed the economy of Antioquia and Medellín to remain quite active in recent years, to which is also added a great capacity for reactivation in the sector. manufacturing, especially clothing”, explained the executive of the Cali Chamber of Commerce.
The fifth position of the regional recovery indicator is occupied by Caldeswith an index of 111.8 (11.8% recovery compared to 2019, followed by Santander (111.7), Córdoba (109.4), Risaralda (106.9) and Bogotá (104.6).
Although the capital is responsible for 25% of the country’s economy, it still has several indicators below its pre-Covid level. This is how its indicator for the creation of new companies is at 89.2, that of passengers mobilized at 66.1, and that of employment at 89.2.
The study also analyzed the economy of Cauca, which registers an index of 100, at the same level as in 2019, and Tolima, with 97.1, 2.9% below its pre-pandemic benchmark.
Although the National Administrative Department of Statistics (Dane) has been monitoring economic activity with the Economic Monitoring Index (ISE) and with the publication of the 2021 GDP, which grew 10.6%, it also announced that the economy closed the year with a scenario 2.8% above the activity of 2019the national statistical authority does not present a follow-up indicator by region.
LAURA LUCIA BECERRA ELEJALDE
BRIEFCASE
