Regional Economic Bulletin: Northwest, First Quarter of 2026
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.
In the first quarter of 2026, most economic activity in the northwest region expanded, although signs of slowing growth appeared and were reflected in higher unemployment. Commerce was the main driver of growth, supported by demand for durable goods and improved consumer confidence in an environment of greater access to credit. Mining activity also expanded, driven by higher gold production and exports. Meanwhile, manufacturing, along with some indicators of the construction and agricultural sectors, showed more moderate growth. Inflation accelerated, with increased price pressures from perishable foods and services.
Manufacturing production slowed, although it remained above the national average. Slower growth was observed in most manufacturing divisions. However, manufacturing of transport equipment stood out due to stronger external and domestic demand for vehicles, the latter also boosting commerce in the region.
Livestock sector indicators showed mixed results: cattle slaughter declined, pig slaughter reached historically high levels, and milk procurement remained at levels similar to those reported a year earlier. In the agricultural sector, excessive rainfall reduced the supply and availability of some agricultural products, thus resulting in higher inflation for perishable food prices.
Gold production increased in Antioquia and Chocó, supported by historically high international prices. Additionally, stronger external demand was observed, which boosted total regional exports, allowing them to reach a record high.
Regional Economic Bulletin published to date (since 2025)
In order to present this content to the English-speaking public, since 2025 Banrep has been providing translations of the summaries. The full document, as well as the interactive bulletin, are published only in Spanish.
