Use of Financial Services: Key Indicators, Outstanding Loans from Commercial Banks for Colombia
COLFCSODCGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41.65
Year-over-Year Change
29.06%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the volume of outstanding loans from commercial banks in Colombia as a percentage of the country's gross domestic product (GDP). It provides insight into the level of financial intermediation and access to credit in the Colombian economy.
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 outstanding loans from commercial banks to GDP ratio is a key indicator of financial development and banking sector depth. It reflects the size and extent of the formal banking system's engagement with the real economy through lending activities.
Methodology
The data is collected and reported by the Central Bank of Colombia.
Historical Context
This metric is used by policymakers and analysts to assess the financial health and credit conditions within the Colombian economy.
Key Facts
- Colombia's outstanding bank loans were 42.7% of GDP in 2021.
- This indicator has increased from 32.7% in 2010, signaling greater financial deepening.
- Loan growth has outpaced GDP expansion in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total outstanding loans from commercial banks in Colombia as a percentage of the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: The outstanding loans to GDP ratio is a key indicator of financial development and the depth of the banking sector's engagement with the real economy through lending activities.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Colombia.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the financial health and credit conditions within the Colombian economy.
Q: Are there update delays or limitations?
A: The data is published on a regular basis by the Central Bank of Colombia with minimal delays.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Loans from Commercial Banks for Colombia (COLFCSODCGGDPPT), retrieved from FRED.