GDP is a key measure of economic output, but departmental figures are published with a lag. Therefore, it is useful to complement them with more recent information. In this context, the BER offers a timely view of the regional economy based on analysis and interpretation of indicators from different sectors. Because data collection occurs about a month before publication, the BER provides a near-real-time view.
If GDP tells us how much an economy grows, why do we need the BER?
GDP is a key measure of economic output, but departmental figures are published with a lag. Therefore, it is useful to complement them with more recent information. In this context, the BER offers a timely view of the regional economy based on analysis and interpretation of indicators from different sectors. Because data collection occurs about a month before publication, the BER provides a near-real-time view.
Related BanRep Blog: The Colombian Economy from a Regional Perspective
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When we hear that the economy has grown, we may assume every household, business, and region in the country experienced the same narrative. However, that’s often not the case. A good harvest can boost one region’s performance, while construction challenges may slow down another’s. To really understand a country’s economy, we need to look not only at its overall growth rate, but also at where, how, and why it’s growing...
