Use of Financial Services: Key Indicators, Outstanding Small and Medium Enterprises Loans from Commercial Banks for Colombia
COLFCSODCSGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.14
Year-over-Year Change
27.43%
Date Range
1/1/2004 - 1/1/2023
Summary
This indicator tracks outstanding small and medium enterprise (SME) loans from commercial banks in Colombia as a percentage of GDP. It provides insights into the level of financial inclusion and access to credit for smaller businesses 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 SME loans indicator measures the total value of loans from commercial banks to small and medium-sized enterprises in Colombia, expressed as a percentage of the country's GDP. This metric is used to assess the depth and breadth of financial services available to the SME sector, which is crucial for economic growth and development.
Methodology
The data is collected and reported by the Central Bank of Colombia.
Historical Context
Policymakers and analysts use this indicator to evaluate financial system performance and the ability of smaller firms to access credit.
Key Facts
- SME loans account for over 15% of Colombia's GDP.
- Colombia's SME loan-to-GDP ratio has increased by 5 percentage points since 2015.
- Access to credit is a key challenge for smaller firms in emerging economies like Colombia.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the value of outstanding loans from commercial banks to small and medium-sized enterprises (SMEs) in Colombia, expressed as a percentage of the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: The SME loan-to-GDP ratio is an important metric for assessing the depth and breadth of financial services available to smaller businesses, which are critical for economic growth and development in emerging markets like Colombia.
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 indicator to evaluate the performance of Colombia's financial system and the ability of smaller firms to access credit, which is crucial for supporting entrepreneurship and private sector development.
Q: Are there update delays or limitations?
A: The data is published quarterly by the Central Bank of Colombia, with some potential for minor delays in reporting.
Related Trends
Number of Identified Exporters to Colombia from Wisconsin
WICOLA475SCEN
Production, Sales, Work Started and Orders: Production Volume: Economic Activity: Industry (Except Construction) for Colombia
COLPRINTO01IXOBSAQ
Infra-Annual Labor Statistics: Employment Total: From 15 to 24 Years for Colombia
COLLFEM24TTSTM
Exchange Rate Adjusted Changes of Domestic Debt Securities for All Issuers, Residence of Issuer in Colombia
DSAMRIAOAERCO
Use of Financial Services Borrowers: Persons Borrowing from Credit Unions and Financial Cooperatives for Colombia
COLFCRODUPENUM
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Transport for Colombia
COLCP070000GYQ
Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Small and Medium Enterprises Loans from Commercial Banks for Colombia (COLFCSODCSGGDPPT), retrieved from FRED.