Regional Economic Bulletin: Northwest, 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.
In the first quarter of 2025, the northwest region’s economy grew year-over-year, driven by stronger domestic demand, lower interest rates and inflation, and improved consumer confidence, which resulted in lower unemployment. On the one hand, industry and commerce surged, reflecting higher imports of intermediate and consumer goods. Likewise, agricultural production grew, with coffee exports standing out. On the other hand, the total area under construction declined, although new home sales increased.
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Retail sales in Antioquia continued to rise, exceeding the national average. This result was associated with discounts, increased tourism, and more favorable financing conditions, among other factors. The strongest retail segments included automobiles, motorcycles, computer equipment, and telecommunications.
Industrial production increased more sharply, and above the national average. Stronger domestic and foreign demand, improved sales expectations, and new customers boosted manufacturing. Most subsectors expanded, especially transportation equipment, household appliances, processed foods, textiles, and apparel.
Food supply and cattle slaughtering in Antioquia improved due to solid demand, while milk collection benefited from favorable weather conditions. In turn, the disbursement of loans for the sector continued to rise.
