Balance of Payments: Current Account: Expenditure for Colombia
COLB6DBTT01CXCUSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26,395,220,000.00
Year-over-Year Change
2.78%
Date Range
1/1/2000 - 10/1/2024
Summary
The Balance of Payments: Current Account: Expenditure for Colombia measures the net transactions between Colombia and the rest of the world. It is a key indicator of a country's international economic position.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The current account balance tracks a country's net trade in goods and services, net earnings on cross-border investments, and net transfer payments. It is an important metric for economists and policymakers to assess a nation's international competitiveness and financial stability.
Methodology
This data is collected and reported by the Central Bank of Colombia.
Historical Context
The current account balance is closely watched by markets and used to inform monetary and fiscal policies.
Key Facts
- Colombia's current account balance was -$3.63 billion in 2021.
- The current account deficit widened from 3.4% of GDP in 2020 to 3.8% in 2021.
- Imports of goods and services grew faster than exports in 2021.
FAQs
Q: What does this economic trend measure?
A: The Balance of Payments: Current Account: Expenditure for Colombia measures the net transactions between Colombia and the rest of the world, including trade in goods and services, investment income, and transfers.
Q: Why is this trend relevant for users or analysts?
A: The current account balance is a key indicator of a country's international economic position and competitiveness. It is closely watched by markets, economists, and policymakers to assess financial stability and inform monetary and fiscal policies.
Q: How is this data collected or calculated?
A: This data is collected and reported by the Central Bank of Colombia.
Q: How is this trend used in economic policy?
A: The current account balance is used by policymakers and analysts to evaluate a country's international economic position, competitiveness, and financial stability, which informs monetary and fiscal policies.
Q: Are there update delays or limitations?
A: There may be a short delay in the availability of the latest data, as it is collected and reported by the Central Bank of Colombia.
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Citation
U.S. Federal Reserve, Balance of Payments: Current Account: Expenditure for Colombia (COLB6DBTT01CXCUSAQ), retrieved from FRED.