Colombian economy contracted 3.4% during November 2020, lowest fall since the start of pandemic

The National Administrative Department of Statistics (Dane) reported that the Economic Monitoring Index (ISE) during November 2020 showed that the Colombian economy contracted -3.39%, compared to a growth of 3.14% in November 2019. This figure is the lowest in the midst of the pandemic and confirms the recovery process, since the crisis began in March with a contraction of -4.42%, deepened at -20.55% during April, -16, 23% in May, -10.95% in June, -9.52% in July, -10.34% in August, -75 in September and -4.52% in October.

Colombian Industrial Production Index fell 7.1% in November 2020

The Industrial Production Index in Colombia in November 2020 fell by 7.1% compared to the results of the same period in 2019, the National Administrative Department of Statistics (DANE) reported. According to the state entity, in November 2020, compared to November 2019, the four industrial sectors presented negative variations. According to the data, the Exploitation of mines and quarries presented a variation of -29.9%; Manufacturing Industry -0.2%; Water collection, treatment and distribution of -1.2%, and Electricity and gas supply was -0.3%.

Annual retail sales in Colombia grew 4.1% in November 2020

The National Administrative Department of Statistics (Dane), revealed the results of the Monthly Trade Survey as of November 2020, which showed an annual variation of 4.1% in real sales of the retail trade; without taking into account fuel and vehicle sales, the variation increased to 10.8%. Between January and November of last year, there was a contraction of 8.4% per year in real sales of the retail trade and vehicles compared to the results of 2019; the reduction, for the same period, excluding fuels or vehicles, was 1.5%.

Close to 2.8% of GDP lost in salaries during 2020 in Colombia

The National Association of Financial Institutions (Anif) delivered a new study on the behavior of the labor market in Colombia last year. According to the association's calculations, the accumulated lost labor income, between March and November, amounts to $ 8.5 billion; that is, about 2.8% of the Gross Domestic Product (GDP). According to the report, and based on the closure of operations due to coronavirus restrictions, the unemployment rate would close 2020 between 15.5% and 16%.

Big miners face new front in Colombia human rights battle

The Global Legal Action Network claims Anglo American, BHP and Glencore — joint owners of the Cerrejón mine — have failed to meet standards for multinational enterprises (MNE) developed by the Paris-based organisation. It alleges that persistent expansion of the mine over the past four decades has led to ruinous environmental degradation with a serious impact on human rights. GLAN has filed complaints in Australia, Ireland, Switzerland and the UK with the OECD contact points charged with ensuring compliance with the guidelines.

Colombia’s Minister of Defense in intensive care with coronavirus

Defense Minister Carlos Holmes Trujillo was admitted to a hospital after feeling unwell. During the weekend, the clinical condition of the 69-year diplomat and close political ally of President Duque worsened to the extent that on Monday the Presidency confirmed that the Minister is receiving “permanent medical attention in the critical care area, due to acute respiratory infection and viral pneumonia.” General Luis Fernando Navarro, Commander of the Armed Forces has assumed the role of interim Minister of Defense while Holmes Trujillo continues to receive treatment.