Industrial sector shows good performance

“industrial sector exhibits good performance and tourism continues its dynamism”.

Regarding construction, it points out that, despite the price increases reflected in the cost indexes during July, the sector shows sustained growth since the recovery from the pandemic.

The Ministry of Economy, Planning and Development reports that the industrial sector exhibited a good performance, experiencing positive inter-annual variations in its exports and an increase in foreign currency loans, according to the report Panorama Sectorial corresponding to the month of July 2022.

The report of the Directorate of Sectoral Economic Analysis of the Vice Ministry of Economic and Social Analysis indicates that manufacturing activity continues to show favorable economic conditions and prospects.

In this sense, it explains that local manufacturing exports amounted to US$195.7 million, for an inter-annual increase of 54.1%.

It details that this performance is mainly explained by the incidence of liquefied petroleum natural gas (27.3 p.p.), cane sugar (17.6 p.p.), plastic tableware (2.8 p.p.), wheat flour (2.6 p.p.), among others.

On the other hand, the report states that domestic imports of manufactured goods amounted to US$2,225.9 million, for an inter-annual increase of 31.9%. Of these, US$175.3 million corresponded to imports of capital goods, which presented an inter-annual variation of 18.4%, which evidences a growth in the production level of manufacturing activities.

Regarding total exports under the free zone regime, it states that they registered an inter-annual growth of 3.8%, reaching US$647.8 million. Likewise, it adds that foreign sales of manufacturing products registered a value 3.7% above that shown in July 2021.

It explains that the products that most contributed to this growth were t-shirts and knitted shirts (1.9 p.p.) and medical instruments and devices (1.8 p.p.).

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