Use of Financial Services: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for Colombia
COLFCAODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,959.56
Year-over-Year Change
54.77%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of deposit accounts with commercial banks per 1,000 adults in Colombia. It provides insight into financial inclusion and the use of banking services by the adult 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 'Use of Financial Services: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for Colombia' trend tracks the accessibility and utilization of basic banking services in the country. It is an important indicator of financial development and economic well-being.
Methodology
The data is collected by the World Bank using information reported by national authorities.
Historical Context
This metric is widely used by policymakers, economists, and financial institutions to assess financial inclusion and the reach of the banking system.
Key Facts
- Colombia had 1,235 deposit accounts per 1,000 adults in 2019.
- The trend has steadily increased from 941 accounts per 1,000 adults in 2004.
- Financial inclusion remains a key policy priority in Colombia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of deposit accounts with commercial banks per 1,000 adults in Colombia. It provides insight into the level of financial inclusion and the use of basic banking services by the adult population.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of financial development and economic well-being in Colombia. It is widely used by policymakers, economists, and financial institutions to assess the accessibility and utilization of the banking system.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank using information reported by national authorities in Colombia.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and financial institutions to evaluate financial inclusion and the reach of the banking system in Colombia. It informs policy decisions aimed at improving access to basic financial services.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank. There may be some delays in reporting, but the trend provides a reliable, long-term view of financial inclusion in Colombia.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for Colombia (COLFCAODCANUM), retrieved from FRED.