Bank Deposits to GDP for Colombia
DDOI02COA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.01
Year-over-Year Change
71.05%
Date Range
1/1/1960 - 1/1/2021
Summary
The Bank Deposits to GDP for Colombia measures the ratio of total bank deposits to the country's gross domestic product, providing insight into the size and importance of the banking sector relative to the overall 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
This economic indicator represents the level of financial intermediation and banking system development in Colombia. It is used by economists and policymakers to assess the depth and health of the country's financial system and its role in supporting economic growth.
Methodology
The data is calculated by the World Bank using national account and banking system statistics reported by the Colombian government.
Historical Context
Trends in bank deposits to GDP can inform macroeconomic and financial sector policies aimed at promoting financial inclusion and stability.
Key Facts
- Bank deposits in Colombia equaled 43.8% of GDP in 2020.
- The ratio has increased from 29.5% in 2000, indicating growth in the financial sector.
- Colombia's bank deposit to GDP ratio is higher than the Latin American and Caribbean regional average.
FAQs
Q: What does this economic trend measure?
A: The Bank Deposits to GDP for Colombia measures the total value of bank deposits held by individuals and businesses relative to the country's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the size and development of Colombia's banking and financial system, which is relevant for assessing financial sector stability, access to credit, and overall economic growth prospects.
Q: How is this data collected or calculated?
A: The World Bank calculates this ratio using national account data on GDP and banking system statistics on total deposits reported by the Colombian government.
Q: How is this trend used in economic policy?
A: Trends in the bank deposit to GDP ratio can inform macroeconomic and financial sector policies aimed at promoting financial inclusion, banking system stability, and overall economic development in Colombia.
Q: Are there update delays or limitations?
A: The World Bank data on bank deposits to GDP is published annually with a lag of approximately one year, so the most recent figures may not reflect the latest economic conditions.
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Citation
U.S. Federal Reserve, Bank Deposits to GDP for Colombia (DDOI02COA156NWDB), retrieved from FRED.