Regional Economic Bulletin (BER in Spanish): Caribbean Coast, Third Quarter of 2023
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 Regional Economic Bulletin (BER) is a quarterly publication produced since 2003, whose purpose is to provide the economic agents and the general public with periodic, reliable, and timely information on the evolution of the main variables of the economic activity in the regions of the country, following the own classification of Banco de la República (the Central Bank of Colombia).
The Caribbean region’s economy continued to decelerate in the third quarter, with annual declines in several economic indicators primarily due to weakening demand and the lingering statistical effect of a high comparison base. In terms of activity, industrial production contracted, hindered by high inventories and low availability of raw materials. At the same time, the negative performance of domestic trade and construction was associated with the generalized uncertainty that affected consumer confidence. In turn, transportation and tourism continued to be impacted by the closedown of two airlines and the high prices of fuel and hotel rates. As for the agricultural sector, supplies grew slightly, and livestock activity reduced its fall due to favorable rainfall. Foreign trade reported a reduction in exports and imports. Finally, inflation slowed down due to lower foreign exchange and food price pressures, while the unemployment rate maintained its downward trend.
Regional Economic Bulletin published to date (since 2025)
In order to present this content to the English-speaking public, since 2025 Banrep has been providing translations of the summaries. The full document, as well as the interactive bulletin, are published only in Spanish.
