After negative results in January 2021, due to new restrictions to contain the second wave of covid-19 infections, the Colombian economy improved in February. Yet, figures are still negative. According to the DANE's Economic Monitoring Indicator (ISE) the gross domestic product (GDP) may have decreased by -3.48 percentage points in February. Among all sectors of the economy, the primary sector decreased by -1.10 percentage points compared to last year.
In March 2021, the business confidence index grew for the second consecutive month, informed Dane. Over the past three months, it passed from 48.7 in January 2021 to 53.1 in March. Last month, among all economic sectors, manufacturing industries registered the highest rate (54.7), followed by construction (53) and public services (50.9).
The Ministry of Health announced yesterday its decision to allow private parties to acquire and provide vaccines against Covid-19. The government also released specific guidelines that companies must follow. In detail, companies can only purchase vaccines directly from producers, such as AstraZeneca and Pfizer.
Colombian bank Finandina announced its first bonds for the local market. The operation has an estimated value of $22.5 million (Co$ 100 billion), but it could be increased to $55 million (Co$ 200 billion). Bonds of two and three years of maturity will be offered.
Mining Company Minero announced its plan to issue $10 million bonds on the Colombian Stock Exchange Colombia (Bolsa de Valores de Colombia). In parallel, the company will also trade $25 million on the Toronto Stock Exchange. The future inflow of capital will be fully allocated to the Luna Roja project in Nicaragua, recently acquired by the company.
Since it arrived in Colombia in 2014, Netflix has invested more than $175 million in local productions. The American media company announced yesterday its investment decision to open a Bogotá office. It also expects to have 30 new projects by 2022. According to the company, this decision represents its interest in the human capital that Bogotá offers to the creative industry.
The Chamber of Commerce of Bogotá revealed today the first results of its Economic Reactivation Thermometer initiative for Bogotá and the Region. Results show that, between October 2020 and March 2021, the number of fully operating companies grew from 21% to 30%. Similarly, the percentage of companies operating under any restrictions dropped from 56% to 43%. However, closed businesses increased from 8% to 14% in the same period.
Colombia’s infrastructure agency (ANI) has halted the prequalification for the $773 million (Co$ 2.8 trillion)Dique canal rehabilitation private-public partnership due to social consultations with locals. The national planning department (DNP) and the finance and transport ministries are reviewing the project. The entities expect to approve the financial, technical and legal structuring during the second half of this year, ANI said in a press release.
In February 2021, manufacturing production and retail sales increased by 0.6% and 2.2%, compared to the previous month, revealed the National Statistics Department (Dane). According to DANE's director, Juan Daniel Oviedo, results come after an earlier negative estimate for February. Chemical manufacturing recorded the largest increase at 21%, followed by electronic devices at 15,9%.
Last February, small business sales increased by 1.2% compared to January 2021, reported the National Statistics Department (Dane). According to DANE's director, Juan Daniel Oviedo, this economic recovery is correlated with lifting lockdown restrictions.