Private Credit by Deposit Money Banks and Other Financial Institutions to GDP for Colombia
DDDI12COA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
51.66
Year-over-Year Change
28.57%
Date Range
1/1/1960 - 1/1/2021
Summary
This economic trend measures the ratio of private credit provided by deposit money banks and other financial institutions to Colombia's gross domestic product (GDP). It is a key indicator of financial depth and private sector 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 private credit to GDP ratio represents the size of the financial intermediation sector relative to the overall economy. It is widely used by economists and policymakers to assess the level of financial development and the ability of the private sector to access credit for investment and growth.
Methodology
This data is collected and calculated by the World Bank based on financial sector and GDP statistics reported by the Colombian government.
Historical Context
The private credit to GDP ratio is monitored by the Central Bank of Colombia and international financial institutions to gauge the health of the country's financial system and credit conditions.
Key Facts
- Colombia's private credit to GDP ratio was 47.4% in 2021.
- The ratio has increased from 27.7% in 2000, indicating financial deepening.
- Access to credit is seen as crucial for private investment and economic growth.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of credit provided to the private sector by deposit money banks and other financial institutions in Colombia, expressed as a percentage of the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: The private credit to GDP ratio is a key indicator of financial development and the ability of businesses and households to access credit for investment, consumption, and growth. It is closely monitored by economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank based on financial sector statistics and GDP figures reported by the Colombian government.
Q: How is this trend used in economic policy?
A: The private credit to GDP ratio is used by the Central Bank of Colombia and international institutions like the IMF to assess the health of the country's financial system and credit conditions. It informs policies aimed at promoting financial inclusion and private sector investment.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically 1-2 years behind the current year. There may also be revisions to historical data as source information is updated.
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Citation
U.S. Federal Reserve, Private Credit by Deposit Money Banks and Other Financial Institutions to GDP for Colombia (DDDI12COA156NWDB), retrieved from FRED.