As
of January 2026, Colombia's economy shows signs of cooling inflation (around
3-4.5% for 2026), a low unemployment rate (around 7% recently), and stable but
moderated GDP growth (projected 2.3-2.9% for 2026), with nominal GDP
nearing $462 billion and per capita GDP around $8,640 for the year, though
recent wage hikes could challenge inflation, according to sources like
IMF, BBVA
Research, Colombia
One,
and georank.org.
Key
Indicators for Colombia (Early 2026 Estimates/Recent Data)
Inflation (2026
Projection): Expected to be above the 3% target, potentially settling near
4.5-4.6% by year-end, with analysts watching a recent significant minimum wage
hike.
Unemployment: Decreased to
7.0% in November 2025, a multi-decade low for that month.
Nominal GDP (2026): Projected
around $462 billion USD.
GDP per Capita (2026): Estimated
at approximately $8,640 USD.
GDP Growth (2026 Projection): Forecasts suggest around 2.3% to 2.9%.
Economic
Context
Central
Bank Target: The Bank of the Republic aims for 3% inflation (±1%).
Challenges: Rising
fuel/goods prices and a large minimum wage increase (over 23% for 2026) are key
factors influencing inflation and the central bank's decisions.
Sectoral Outlook: Financial services are expected to lead growth in 2026.
As of January 2026, Colombia’s economy is navigating a recovery phase characterized by gradually declining inflation and record-low unemployment, though a substantial minimum wage hike is expected to exert new upward price pressure.
Economic
Indicators (January 2026)
Inflation: Annual
inflation eased to 5.1% in December 2025. However, analysts
anticipate a potential surge to roughly 6% in early 2026 following
a 23%–23.7% increase in the minimum wage enacted by the Petro
administration.
Unemployment: The
unemployment rate reached a historic low of 7.0% in November 2025.
Projections for the full year 2026 suggest a stabilization around 9.8%.
Nominal Per Capita GDP: Projections for 2026 estimate nominal GDP per capita at approximately $8,640.
Comments
Columbia’s cocaine production elimination is on Trumps list.
Norb Leahy, Dunwoody GA Tea Party Leader
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