Regional Economic Bulletin: Northwest, second 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.
The economy of the northwest region accelerated in the second quarter of 2025. Domestic consumption drove this outcome amid greater access to credit, stable inflation, improved consumer confidence, and historically low unemployment in Medellín and its metropolitan area. Industry and commerce in Antioquia grew above the national average. Likewise, the agricultural sector and most transportation-related activities posted positive results. In construction, although a decline in the constructed area was observed, new housing sales and approved area experienced recovery. On the external front, exports and imports recorded increases.
Retail trade in Antioquia recorded its highest annual growth in three years, driven by lower interest rates, the opening of new sales points, and increased customer traffic. The information technology, communications, and auto parts segments stood out. In turn, vehicle and motorcycle sales reached record levels, reflecting the consumption of durable goods in the region.
The outstanding balance of loan placements in the financial system grew after several negative periods. This result was driven by higher credit demand, supported by lower interest rates as well as by an expansion in supply by financial institutions. Commercial and mortgage loan portfolios grew, while consumer loan portfolios declined, albeit at a slower pace.
The recent economic dynamism has been reflected in the labor market of the Valle de Aburrá, which registered a historically low unemployment rate accompanied by a reduction in informality. Most economic sectors showed an increase in employment, with industry, commerce, telecommunications, and professional activities standing out.
