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Manufacturing and services led a modest second-quarter pickup, while mining slipped into contraction and construction kept decelerating.

The peso sits near $3,200COP, but Bancolombia’s model pegs fair value at $3,720 COP — and sees it drifting back by 2027.

Tourism-linked travel and transport made up 67% of Q1 services exports as Colombia's mix shifted further from oil and mining.

The mid-year update also lifts the bank's policy-rate call to 12.75% and trims its peso forecast as remittances hit records.

Fitch warns Colombia's fiscal gap requires a 4%-of-GDP adjustment — whoever wins the June 21 runoff faces the same uphill climb.

Bancolombia's June tracker points to flat monthly food prices and a 6.12% annual rate as tuber and onion spikes offset seasonal declines.

Colombia's May 31 election pits three candidates with opposite records on oil, investment, security, and foreign policy.

Motor vehicle production surged 27.8% as Colombia posted 2.2% Q1 2026 GDP growth, with manufacturing and retail trade leading the expansion.

As with the nation at large, most areas of Colombia are struggling to achieve growth. But certain segments and indicators are showing positive signs.