After a fairly modest start to the year, in which there was even talk that the regions fell into a scenario of stagnation after achieving a GDP variation below 1%; The reports for the April – June period show a slight improvement, although disparate, in which the center of the country continues to be the main engine of development.
This was confirmed by Dane in its Quarterly Indicator of Departmental Economic Activity (Itaed), updated to the second quarter of the year, according to which, the majority of the territories achieved a rebound of over 2%; led once again by Bogotá, Valle del Cauca and Antioquia; each with 2.4%; respectively.
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According to the statistical authority, the purpose of this reference is to provide a general overviewgeneral of the macroeconomic situation and evolution of the country’s departments and is built based on a heterogeneous set of indicators that mark the stoppage in the departments.
“This indicator allows measuring the economic trend over time, through a coherent analysis through the data of the original series of added value, generated from preliminary basic information on agricultural, mining, industrial economic activities. , commercial and services”, they explain from the entity.
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Vision by region
In a look at the growth of the economy in the departments for the second quarter of 2024, it must be said that remember that in the case of Antioquia, its added value had a growth of 6.0% in 2022 and in 2023 it had a variation of 0 .2%; while during the first quarter of 2024 it presented a variation of 0.1%, compared to the same period of the immediately previous year.
“In the second quarter of 2024 (preliminary) the Itaed of the department of Antioquia, in its original series, was located at 125.8, which represented a variation of 2.4%, registering 2.0 percentage points above the variation presented for the same period of 2023 and 0.1 points above the national growth of 2024,” they stated from Dane.
Although this news is initially positive, it must be said that before the pandemicthis region was growing at a rate of 4% on average and that in the same period of 2022, in the midst of the reactivation after the Covid-19 crisis; reached maximums above 9%; With which it is clear that the slowing winds continue.
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In the case of Bogotá, Dane began by highlighting that the city’s added value in 2022 presented a variation of 8.7% and in 2023 it registered a variation of 0.6%. Similarly, for the first quarter of 2024 it marked 0.9%, compared to the same period of the immediately previous year; being the highest at its time in the entire country.
“For the second quarter of 2024, the Itaed in the city of Bogotá, in its original series, was located at 127.2, which represented a variation of 2.4%, 2.9 percentage points higher than the variation presented for the same period of 2023 and 0.1 points above national growth in 2024,” they explained.
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In this case, the economic activities that contributed most to the dynamics of added value in the capital were public administration and defense; education; human health care and social service activities and artistic, entertainment and recreational activities and other service activities. It also highlights that Construction grew 10.4% and contributed 0.4 percentage points to the annual variation.
Thirdly, with Valle del Cauca, the accounts indicate that between the months of April and June of this year, the indicator in the department of Valle del Cauca, in its original series was located at 120.2, which represented a variation of 2.4%, registering 2.2 points above the variation presented for the same period of 2023 and 0.1 points above the national growth of 2024.
As with Antioquia and Bogotá, they updated the previous data and reported that in 2022, the added value of the department of Valle del Cauca presented a growth of 7.0% and in 2023 it presented a variation of 0.2%; while for the first quarter of 2024 there was a variation of 0.5%, compared to the same period of the immediately previous year.
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The Atlantic lags behind
Although most of the reports were modestly good, there was one in the Dane update that stood out because it failed to keep up with the others and even came in half as good. reached by other regions such as Cundinamarca, Santander or the rest of the country.
This is the Atlantic, whose variation in the reported period of the Itaed was located at 121.1, which represented a growth of 1.0%, after finishing just 0.7 points above the variation presented for the same period in 2023 and 1.3 points below the national growth of 2024. This data could be interpreted as stagnation if it is taken into account that for the first quarter the annual variation had been just 0.7%.
“The added value of the Atlántico department in 2022 registered growth of 8.5% and in 2023 it presented a variation of 0.7%. For the first quarter of 2024, the department presented a variation of 0.7%, compared to the same period of the immediately previous year,” said Dane.
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Meanwhile, during the second quarter of 2024, Cundinamarca recorded a variation in the Itaed of 2.0%, with an economic activity index of 121.6. This growth represents an improvement of 2.1 percentage points compared to the same period in 2023, although it is slightly below the national average by 0.3 percentage points.
In the case of Santander, the Dane indicator showed an annual variation of 2.2%, reaching an index of 116.2. This growth is 1.6 percentage points higher than the variation registered in the same quarter of the previous year and It is only 0.1 percentage points below the national average.
Finally, the group called “Rest of the country” experienced a growth of 2.4%; thus making it clear that there is an improvement in the results, but they still remain below the 3% that experts suggest.
