Regional Economic Bulletin (BER in Spanish): Northeast, 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).
In the third quarter, the northeastern economy exhibited a further slowdown in annual growth due to an adjustment in domestic demand, in a context of high interest rates and inflation. There were decreases in retail sales, hotel occupancy, and energy consumption. The variables related to construction and oil refining continued to show significant falls, while most agricultural and livestock activities performed well. As for foreign trade, exports experienced their sharpest decline since the onset of the pandemic. Although annual consumer inflation slowed down, it remained at high levels, exceeding Banco de la República’s target. The labor market continued to show a positive performance in all the capital cities of the region.
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.
