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Colombia

Colombia's economy in 2025 is projected to grow around 2.5%, driven primarily by strong domestic consumption and a rebound in investment, particularly in machinery, equipment, housing construction, and non-residential buildings related to commerce and industry. Inflation is expected to continue its gradual decline, though some price rigidities in housing and energy sectors remain. Monetary policy is cautiously easing with interest rates expected to fall to about 7.75% by the end of the year, balancing growth support with inflation control.

The economy benefits from a diversified structure where services, including commerce, entertainment, and transport, play a significant role, alongside agriculture which has shown solid growth. However, core productive sectors such as manufacturing, mining, and construction face challenges, with manufacturing output and mining activity experiencing declines in early 2025. Public spending continues to provide additional support to economic activity.

Colombia's business environment is shaped by ongoing efforts to enhance productivity and competitiveness through regulatory reforms and infrastructure development. While the country enjoys a strategic location and multiple trade agreements that expand market access, it faces challenges related to productivity growth, export diversification, and institutional capacity. Financial stability is supported by a sound banking sector and managing fiscal balances, although the fiscal deficit and public debt are areas for continued vigilance.

Overall, Colombia in 2025 presents a moderate but steady growth outlook, with expanding domestic demand and investment underpinning economic activity. The country is focused on fostering a more resilient and competitive economy by improving infrastructure, streamlining regulations, and encouraging innovation, with the goal of achieving inclusive growth and further integration into global markets.

Payment methods in Colombia: