General Government Revenue for Colombia
COLGGRGDP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25.64
Year-over-Year Change
-9.42%
Date Range
1/1/2011 - 1/1/2024
Summary
The General Government Revenue for Colombia measures the total revenue collected by the Colombian government from various sources, including taxes, social contributions, and other revenue. This metric is a key indicator of the government's fiscal position and its ability to fund public services and programs.
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 General Government Revenue for Colombia represents the total amount of money collected by the Colombian government through various channels, such as taxes, social security contributions, and other sources of revenue. This metric is used by economists, policymakers, and analysts to assess the government's financial strength, budget planning, and overall fiscal health.
Methodology
The data is collected and reported by the Colombian Ministry of Finance and Public Credit.
Historical Context
This trend is widely used by economists, policymakers, and investors to evaluate the fiscal policies and economic performance of the Colombian government.
Key Facts
- Colombia's general government revenue was 37.7% of GDP in 2021.
- The government revenue-to-GDP ratio in Colombia has remained relatively stable over the past decade.
- Tax revenue accounts for the largest share of the Colombian government's total revenue.
FAQs
Q: What does this economic trend measure?
A: The General Government Revenue for Colombia measures the total revenue collected by the Colombian government from various sources, including taxes, social contributions, and other revenue.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of the Colombian government's fiscal position and its ability to fund public services and programs, making it relevant for economists, policymakers, and investors analyzing the country's economic performance and fiscal policies.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Colombian Ministry of Finance and Public Credit.
Q: How is this trend used in economic policy?
A: The General Government Revenue for Colombia is widely used by economists, policymakers, and investors to evaluate the fiscal policies and economic performance of the Colombian government, informing decisions related to budget planning, tax policies, and public spending.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly or annual basis, with some potential for delays in reporting.
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Citation
U.S. Federal Reserve, General Government Revenue for Colombia (COLGGRGDP), retrieved from FRED.