Regional Economic Bulletin: Northeast, first quarter of 2025
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.
The northeast region’s economy grew year-over-year during the first quarter of 2025, driven by strong domestic demand and robust agricultural supply. Household consumption benefited from improved financial conditions and lower unemployment. Agricultural production was led by strong performance in palm oil, coffee, and cattle. These, together with cocoa and Tahiti lime, boosted non-oil exports. In contrast, construction activity declined, and the industry remained weak due to lower fuel production. Inflation fell in Tunja and Cúcuta, while Bucaramanga registered the highest CPI variation in the country.
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Retail sales in Santander grew, with vehicles, food, computer equipment, and entertainment standing out. Promotions and discounts boosted consumption. Imports of consumer goods, mainly durable goods, also increased.
Agricultural activity boosted the regional economy. Coffee exports reached record levels, while palm oil and perishable food production also rebounded. Cattle slaughtering hit record highs. In contrast, production of panela and potatoes declined, the latter affected by lower prices.
Annual inflation in the region’s capital cities decreased due to slower food price growth and declines in services. However, Bucaramanga recorded the highest CPI variation in the country, mainly impacted by inflation in regulated items.
