Northwest Q4 2025 Economic Bulletin

Banco de la Republica Colombia (English)

Published March 24th, 2026

Detected March 26th, 2026

Summary

The Banco de la República has published its Regional Economic Bulletin for the Northwest region, covering the fourth quarter of 2025. The report indicates 2.5% economic growth, driven by domestic demand and consumer confidence, impacting commerce and manufacturing, while noting a slight increase in unemployment and inflation above target.

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What changed

The Banco de la República has released its Regional Economic Bulletin for the Northwest region for the fourth quarter of 2025. The bulletin details that the regional economy grew by 2.5% year-on-year, with domestic demand and increased consumer confidence stimulating commerce and manufacturing. While construction showed progress, the agricultural sector saw some indicators weaken. Exports rose due to favorable international prices, and imports moderated. The report also notes a slight increase in unemployment and inflation remaining above the central bank's target.

This publication serves as an informational update on the economic performance of the Northwest region of Colombia. Compliance officers in sectors operating within this region, particularly manufacturing and retail, should review the report for insights into local economic conditions, consumer confidence trends, and labor market dynamics. While no immediate compliance actions are mandated by this bulletin, understanding these economic factors can inform business strategy and risk assessment.

Source document (simplified)

Regional Economic Bulletin: Northwest, fourth quarter of 2025

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Download (only in Spanish) Keep in mind The Regional Economic Bulletin is published by the Regional Economies Section of the Technical and Economic Information Department at Banco de la República. The views and potential errors are the sole responsibility of the authors and do not compromise Banco de la República or its Board of Directors.

AUTHORS AND/OR EDITORS Sección de Economías Regionales Ramírez-Rodríguez, Carolina Valencia-Valencia, Ferney Hernando Giraldo-González, Sebastián Hernández-García, Estefany Ramírez-Vanegas, Ovidio Gustavo Villadiego-Yanes, Francisco Javier The economy of the northwest region grew in annual terms during the fourth quarter, although less dynamically vis-a-vis the previous period. Domestic demand and higher consumer confidence boosted commerce and manufacturing, despite their slowdown. In the agricultural sector, some indicators weakened, except for pig slaughter, which showed improved performance. Construction recorded progress in constructed areas, cement, and concrete, while the asphalt mix declined. Exports increased due to better international prices, and imports moderated their growth. Slower economic activity coincided with a slight rebound in unemployment, while inflation remained above the target.

Publication Date:

Tuesday, 24 of March 2026

Antioquia’s manufacturing sector grew, exceeding the increase of the national aggregate despite its slower pace. Domestic demand, new orders, and logistical improvements supported this performance. Most industrial branches expanded, although more slowly in the previous quarter, except for leather and footwear and non-metallic minerals, which reported stronger growth.

Retail sales in Antioquia continued to grow above the national aggregate, although at a more moderate pace compared to previous periods. Promotional campaigns, store openings, and improved financial conditions supported this performance. Demand for durable goods drove the result, while consumer confidence reached its highest level in years.

Unemployment increased slightly due to a rise in labor supply that exceeded the increase in labor demand. Although the number of employed people continued to grow, the market showed limitations in absorbing new workers. Informality declined slightly, but employment growth was concentrated in non-salaried positions, thus reflecting partial improvements in job quality.