Geographical areas

The Colombian economy has shown signs of stabilising in recent quarters. The upturn in activity is being supported by private consumption, which is 6 pp above its pre-pandemic level, thanks to a strong labour market – with the unemployment rate remaining below the historical average – and rising real household incomes, boosted by the increase in the minimum wage (+23% since 2023) and the expansion of social programmes.

The economy is showing a gradual recovery, driven by the reactivation of private consumption in a context of lower inflation and job creation. Also noteworthy is the upswing in investment, boosted by the normalisation of basic energy and transport infrastructure operations, as well as by the broad-based improvement in confidence following the formation of a coalition government in 2024.