Use of Financial Services: Key Indicators, Household Borrowers from Commercial Banks Per 1000 Adults for Colombia
COLFCRODCHANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
240.29
Year-over-Year Change
57.28%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic indicator tracks the number of household borrowers from commercial banks per 1,000 adults in Colombia. It provides insight into the level of financial inclusion and access to credit within the Colombian population.
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 household borrowers from commercial banks per 1,000 adults metric is a key indicator of financial services usage in Colombia. It measures the proportion of the adult population that has access to and utilizes credit products from the country's commercial banking sector.
Methodology
The data is collected through surveys and reports from Colombia's central bank and financial regulators.
Historical Context
Policymakers and economists analyze this trend to assess financial inclusion and development in the Colombian market.
Key Facts
- Colombia had 388 household borrowers per 1,000 adults in 2021.
- Financial inclusion has improved in Colombia over the past decade.
- Access to credit is a key driver of economic growth and household stability.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of household borrowers from commercial banks per 1,000 adults in Colombia. It provides insight into the level of financial inclusion and access to credit within the Colombian population.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the state of financial development and access to credit in the Colombian market. It is used by policymakers and economists to assess progress on financial inclusion goals and identify areas for improvement.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reports from Colombia's central bank and financial regulators.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to assess financial inclusion and development in the Colombian market, informing decisions on financial sector regulations, access to credit programs, and economic development initiatives.
Q: Are there update delays or limitations?
A: There may be some delays in data reporting and availability, as the information is collected from various regulatory sources. The metric also does not capture the full complexity of financial services usage and access within Colombia.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Household Borrowers from Commercial Banks Per 1000 Adults for Colombia (COLFCRODCHANUM), retrieved from FRED.