Transport, textiles and hotels, among the protagonists of GDP

Transport, textiles and hotels, among the protagonists of GDP

The Colombian economy achieved an important performance in 2021, with a growth in its GDP of 10.6% and the National Administrative Department of Statistics (Dane) highlighted that trade, as well as manufacturing industries and public sector activities, were the main drivers of this increase.

(Read: The country’s challenges after consolidating an economic growth of 10.6%).

The commerce sector achieved variation of 21.2% in 2021 and contributed 3.9 percentage points to the growth of the economy in its added value. Within this category, there were several branches of activity that stood out for their dynamism.

There, the retail tradery and wholesale grew 10.8%, but by categories, the one that had the best performance was air transport, which grew 58.4%, while warehousing and complementary activities to transport saw a rise of 30%.

Also within the sector, the growth of accommodation and food services stands out, which in 2021 grew 59.7%.

Within the food industries, the production of oils and fats grew 23.3%, and that of cocoa, chocolate and confectionery increased 16.4%.



On the other hand, the manufacturing industrieswhich grew 16.4% last year, was the sector with the second largest weight in GDP, contributing 2.0 percentage points.
The industrial sectors that led the recovery in 2021 were, on the one hand, the activities of leather tanning, manufacture of footwear and leather goods (travel items, suitcases, handbags), which grew 41.0% in 2021, and textiles and the manufacture of clothing, which stood at 40.4%.

within the food industries the production of oils and fats of vegetable and animal origin was the one that had the most notable recovery during the past year, increasing 23.3%, followed by the production of beverages and tobacco products (20.9%) and the production of cocoa, chocolate and confectionery products, which increased its production by 16.4% during the past year.

(What’s more: “The fiscal deficit in 2021 fell more than we expected”: IMF).

While the manufacture of furniture, mattresses and bed bases achieved an improvement of 23.1% in 2021 in terms of production, other wood products, as well as basketry and esparto grass items grew 27.2%. And the manufacture of rubber and plastic products also registered a favorable result in 2021, with 21.5%.

The metallurgical products Basic products reported an increase of 19.3% in their manufacturing, while specialized machinery and equipment saw a 19.6% rise in their activities. On the other hand, electrical equipment, as well as computer, electronic and optical products increased by 32.6%.


Agriculture, despite not being one of the sectors with the greatest weight within the GDP, since its contribution was barely 0.2 percentage points to added value, and grew only 2.4%, the subsectors that comprise it, Unlike other items, they did not have the best 2021 and presented a mixed behavior.

Agricultural crops, plant propagation, as well as other related agricultural activities only grew 3.9%, while production related to coffee crops fell by 4.8%.

Livestock grew 4%, and forestry and wood extraction had a variation of -10.8%. Fishing and aquaculture, on the other hand, registered a neutral variation (0.0%).


Another sector that presented a diverse dynamic was the mines and quarries, that as a whole, only grew 0.4% in 2021.

While coal extraction saw an increase in its production of 12.1% during 2021, the extraction of metal ores grew 10.0% and the extraction of other mines and quarries saw a boost of 5.5%.

On the side of crude oil and natural gas, and its support activities for extraction saw a drop of 5.6%.

(Keep reading: BNP Paribas forecasts inflation of 5.5% in Colombia by 2022).

In the construction branch, which in 2021 registered an increase of 5.7% after a 2020 in which its sectoral activity contracted -26.8%, it was the buildings that stood out within the GDP, both in the residential segment and non-residential, This, after growing 11.6% during the past year.

In what has to do with the road and rail constructionof public service projects and other civil engineering works, the information shows that they failed to recover and, on the contrary, closed with a negative variation (-4.6%).

Specialized activities for the construction of civil works, such as the rental of machinery and construction equipment with operators, grew by 6.6%.


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