The Colombian peso remains resilient despite foreign exchange volatility, influenced by a moderate GDP growth rate of 1.7% in 2024. Agriculture particularly thrived with an impressive 8.1% growth, attributed mainly to coffee production. While sectors like manufacturing and mining faced declines, the overall economic indicators suggest a stable foundation. The Economic Tracking Index indicates an uptick in growth, promising robust economic fundamentals. Future performance of the peso will hinge on business confidence and unemployment rates, critical for continued recovery.
To some degree, part of this resilience is attributable to the moderate growth of the Gross Domestic Product (GDP), which reached 1.7% in 2024, an unmistakable sign of a gradual recovery.
Agriculture stood out with growth of 8.1%, driven by a 22.5% rebound in coffee production, reflecting the importance of this crop for the trade balance.
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