UEMOA: Moderate increase of 1.3% in industrial production in 2020

Industrial production in the West African Economic and Monetary Union (UEMOA) recorded a moderate increase of 1.3% in 2020 after achieving 6.5% a year earlier, according to data from the Central Bank of the States of the United States. West Africa (BCEAO) based in Dakar.

“This deceleration is imprinted by the 3.9% decline in production in industries in the food sector, in connection with a contraction of their production capacities and the disruption of distribution circuits”, indicates the institute of issue in its 2020 annual report. However, this deceleration was mitigated by an increase in production in the extractive industry (+ 8.1% against -1.5% in 2019).

As for the turnover of retail trade in the WAEMU, it experienced a decrease of 5.9% on average in 2020 against an increase of 2.5% in 2019. This decline is observed in the trade of food goods. (-13.8% against -3.8%), articles of clothing (-13.3% against + 14.5%) and petroleum products (-7.3% against 4.2%). As for the turnover of other businesses, it was down 1.4% from its level of the previous year.

The indicator of turnover in market services (excluding financial services), for its part, showed a slight decrease of 0.6% in 2020 against an increase of 2.8% in 2019. This development is explained by the BCEAO mainly through the decline in turnover in transport, accommodation and catering services, particularly in connection with the closure of hotel complexes.

Regarding the activity index in financial services, it recorded an increase of 8.3% during the period under review after an increase of 7.7% a year earlier, mainly in connection with the increase in the volume of banking transactions (loans, deposits).

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