The industrial sector grew significantly again in May, recording an increase of 18.6%. This figure represents the highest monthly growth since April 2018, not considering 2021 as a post-pandemic period, reported the Institute of Economic and Social Studies (IEES) of the National Society of Industries (SNI).
The dynamism achieved in the fifth month of the year is mainly the result of the performance of the Primary fishing industry grew by 651.1%, explained by the increased catch of anchovy and other species intended for the production of fishmeal and fish oil. Thus, this industrial sector contributed 17.1 percentage points to the growth of the national industry in May (18.6%).
Thus, thanks to the sector’s reach during the month of study, it contributed 1.9 percentage points to the GDP. This allowed it to be positioned as the economic activity that contributed the most to the national economy, with a growth of 5% in the fifth month of the year.
In addition, Between January and May, the industry had a favorable performance, accumulating a growth of 1.9%as a result of the great progress of the primary subsector (8.3%), as well as the non-primary sector (1.1%), the one with the highest level of transformation and job creation, where a growth of 0.1% was reported.
Manufacturing of machinery for mining exploitation grows by more than 150%
Regarding capital goods, There is a 152.3% growth in the mining and quarrying machinery manufacturing branchas well as for construction works, due to the increased production of drilling machines, loaders, and graders destined for both the domestic market and for export. Likewise, the production of motor vehicles showed an increase of 133.3%
According to the IEES, In the production of consumer goods, the increase in furniture manufacturing was particularly notable, with 24.7%.. The production of clothing, except leather garments, also increased (21.2%). Similarly, the production of pharmaceutical products, medicinal chemical substances and botanical products for pharmaceutical use increased by 17.4%.
Source: Larepublica
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