With the monthly rise, manufacturing activity reversed the fall it had experienced in October.
The UIA pointed out that the twelve items that make up its Industrial Production Index (IPI) had year-on-year increases, and that compared to the same month of 2019 (isolating the effect of the pandemic) there were increases in eleven, with the only exception of Refining of the Petroleum.
In November, the largest increases were seen in some sectors such as Automotive, which registered a rise of 42.7% compared to 2020 and 71.6% compared to 2019.
The sector was “driven mainly by the good performance of exports, while sales to the domestic market continue with a positive dynamic although slightly lagging as a result of supply restrictions, global shortages and difficulties in international logistics,” said the UIA .
Another sector with good performance was the Metalworking industry, with a year-on-year increase of 12.8% and 15.7% compared to 2019, the fifth consecutive improvement against this year.
Within the sector, among the most dynamic branches are agricultural machinery (+49.6% compared to 2020 and 18.4% compared to 2019), bodies, trailers and semi-trailers (+34.9% and +23.3%) and auto parts (+16.4% and +13.9%, respectively).
On the other hand, some sectors register a slowdown in year-on-year variations due to the fact that they registered a rapid recovery during 2020, although they register considerable increases compared to 2019.
Such is the case of Non-metallic minerals, with a year-on-year increase of 4.7% and 24.6% compared to November 2019.
Meanwhile, other items showed increases both year-on-year and with respect to 2019, although with heterogeneities within them.
Among these is Food and Beverages, which registered a year-on-year increase of 5.2%, while against 2019 growth was 6.8%.
Within this activity, there were items with good results such as rice, soft drinks and cookies, while others such as meat and yerba mate had a worse performance.
Something similar is observed in the Paper and Cardboard sector, which registered a rise of 3.9% compared to 2020 and 9.8% compared to 2019.
In this case, packaging paper continues to be the main driver given the strong rise in online commerce, while the rest of the items are lagging behind or with falls due to changes in consumption patterns, such as the case of packaging paper. newspaper, cited the UIA report.
Likewise, the Basic Metals sector registered in November a rise of 16.3% year-on-year and 12.1% against 2019, with a boost given by the production of steel, while that of aluminum is further behind, with levels of production below 2019.
The Oil Refining category, which lagged behind in relation to other activities, showed a year-on-year increase of 18.7%, driven by the increase in production in Vaca Muerta, although it was below 2019 levels (- 3.2%).
On the contrary, the reverse situation was recorded in the Electronics sector: the rapid recovery during the second half of 2020 left a high basis for comparison, for which the sector contracted by 26% year-on-year, while against 2019 it showed a rise considerable (+36.5%).
Source From: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
