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.
What can we learn when we view the economy beyond the national figures?
We can understand how different regions experience the economy. This view helps us identify which activities drive growth, which face difficulties, and how factors such as consumption, climate, or international prices affect each region differently.
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...
