People 15 Years and Over Saving at a Financial Institution in the Past Year for Colombia
DDAI06COA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11.39
Year-over-Year Change
23.79%
Date Range
1/1/2011 - 1/1/2021
Summary
This economic trend tracks the percentage of people aged 15 and older in Colombia who reported saving at a financial institution in the past year. It provides insights into the savings behavior and financial inclusion of 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 'People 15 Years and Over Saving at a Financial Institution in the Past Year' metric is an important indicator of financial access and the degree of financial inclusion within a country. It sheds light on the ability of the population to save and accumulate assets, which are crucial for long-term economic stability and development.
Methodology
This data is collected through household surveys conducted by the World Bank.
Historical Context
Policymakers and financial institutions use this trend to assess progress towards financial inclusion goals and identify areas for improvement.
Key Facts
- Colombia's savings rate at financial institutions was 47.3% in 2017.
- The trend has shown steady improvement over the past decade.
- Financial inclusion is a key priority for the Colombian government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of people aged 15 and older in Colombia who reported saving at a financial institution in the past year.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the level of financial inclusion and access to formal savings mechanisms within the Colombian population, which is crucial for economic development and stability.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the World Bank.
Q: How is this trend used in economic policy?
A: Policymakers and financial institutions use this trend to assess progress towards financial inclusion goals and identify areas for improvement.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be limitations in survey coverage and self-reported responses.
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Citation
U.S. Federal Reserve, People 15 Years and Over Saving at a Financial Institution in the Past Year for Colombia (DDAI06COA156NWDB), retrieved from FRED.