Industrial production closed 2021 with a growth of 12.3% in the annual average compared to 2020, when it had fallen 5.2% hit by the effects of the pandemic on activity, according to data released this Friday by the National Institute of Statistics (INE). In December, production grew 11.3% year-on-year.
Meanwhile, the production of industrial core closed the year with an expansion of 13% in the year-on-year comparison, economist Aldo Lema wrote on his Twitter account. The industrial core leaves aside the incidence of the free zones —pasteras and Pepsico— and the Ancap refinery which, due to their size, can distort the reality of the industrial sector.
“Uruguay’s manufacturing core reached its highest seasonally adjusted level in December since October 2014,” said Lema.
For its part, the rate of hours worked Y of employed personnel by industry increased 7.2% and 5.4% throughout the year, respectively, according to the INE.
For its part, In December, the heart of the industry increased its production by 16% and accelerated its year-on-year expansion, according to Nicolás Cichevski of CPA Ferrere. In November, growth was 12.8% in the same comparison.
In the year
The division that had the most impact in the increase of the average industrial product for the year was “manufacture of food products”, with a variation of 14.5% and incidence of 5.7 percentage points (pp). This is the sector with the greatest weight within the industrial core. In 2020, meat processing and preservation stood out, with a variation of 20% and an incidence of 6.5 pp in the division. The slaughterhouse industry had a record slaughter year of 2.6 million heads.
Following in order of positive impact are the motor vehicle manufacturing and rubber and plastic product manufacturing divisions, with variations of 122.8% and 23.4%, and impacts of 1.2 points and 0.9 points, respectively.
The divisions with a negative impact on the average for the year were other manufacturing industries, and repair and installation of machinery and equipment, with variations of -5.2% and -1%, and impacts of -0.03 points and -0.02 points, respectively.
