Industrial production grew 1% in January 2018 for the oil sector

In January, the annual variation of the real production of the manufacturing industry was explained by the growth of the industrial activities of coking, oil refining and mixing of fuels and basic iron and steel industries.

In January 2018, industrial production rose by 1% while, in the same month of 2017, the indicator fell by 0.1%, according to the Dane on Wednesday.

According to the Dane, in the first month of year 20 of the 39 industrial activities registered positive variations in the real production of the manufacturing industry.

The industries that drove the variation of factory production in the country were: coking, oil refining and fuel mix as they rose 5.8%; basic iron and steel industries that increased by 11.6% and processing and preservation of meat, fish and their products that increased by 8.2%.

According to the report of the statistical entity, the growth of coking, oil refining and fuel blending is explained by the increase in production due to the greater number of shipments to both the domestic and foreign markets and the creation of new production lines

For its part, manufacture of non-metallic mineral products a fall of 4.6%; Manufacturing of machinery and equipment that contracted 21.5% and manufacture of plastic products that decreased by 4.5%, slowed the growth of the indicator.

The behavior in Manufacture of non-metallic mineral products is explained, according to the Dane, by a decrease in the dispatch of construction materials compared to the same period of the previous year, the competition between establishments of the same union and the policies of inventory reduction . In the case of the manufacture of machinery and equipment, the decrease is due to the decrease in demand due to the lower number of orders compared to the same period of the previous year.

It must be said that, in January 2018, real sales presented a variation of 3.1%. On the other hand, the employed personnel registered a variation of -1.6%. In January 2017, the variations were 1.3% and 0.1%, respectively.
Production in the last 12 months

In the period between February 2017 and January 2018, the real production of the manufacturing industry presented a variation of -0.5%. In the past period, this variation had presented a growth of 3.2%.

Between February 2017 and January 2018, 13 of the 39 industrial activities registered positive variations in their real production. Among them stand out, by his positive contribution, the industries of coking, refining of petroleum and mixture of fuels with a variation of 5.2%: manufacture of basic chemical substances and their products with 5.7% and the basic industries of iron and steel with 5.3%.

Meanwhile, negative contributions were recorded in the production of beverages with a variation of -3.9%, clothing manufacture with -8.3% and manufacture of non-metallic mineral products with -3.0%.

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