Colombia - Domestic credit to private sector (% of GDP)

Domestic credit to private sector (% of GDP) in Colombia was 54.07 as of 2020. Its highest value over the past 60 years was 54.07 in 2020, while its lowest value was 19.00 in 1973.

Definition: Domestic credit to private sector refers to financial resources provided to the private sector by financial corporations, such as through loans, purchases of nonequity securities, and trade credits and other accounts receivable, that establish a claim for repayment. For some countries these claims include credit to public enterprises. The financial corporations include monetary authorities and deposit money banks, as well as other financial corporations where data are available (including corporations that do not accept transferable deposits but do incur such liabilities as time and savings deposits). Examples of other financial corporations are finance and leasing companies, money lenders, insurance corporations, pension funds, and foreign exchange companies.

Source: International Monetary Fund, International Financial Statistics and data files, and World Bank and OECD GDP estimates.

See also:

Year Value
1960 22.95
1961 24.27
1962 24.33
1963 22.59
1964 20.52
1965 20.64
1966 21.29
1967 21.57
1968 23.53
1969 25.61
1970 25.80
1971 23.70
1972 21.75
1973 19.00
1974 29.62
1975 29.79
1976 28.59
1977 27.36
1978 27.81
1979 27.20
1980 30.46
1981 32.82
1982 34.17
1983 36.73
1984 37.32
1985 35.63
1987 25.49
1988 23.22
1990 25.91
1991 23.40
1992 25.24
1993 28.67
1994 31.07
1995 33.66
1996 35.32
1997 36.48
1998 35.22
1999 31.65
2000 20.95
2001 21.91
2002 21.52
2003 21.08
2004 22.20
2005 22.75
2006 27.33
2007 30.57
2008 31.34
2009 30.06
2010 32.35
2011 34.96
2012 37.74
2013 39.48
2014 42.38
2015 46.91
2016 47.05
2017 49.81
2018 49.57
2019 51.50
2020 54.07

Development Relevance: Private sector development and investment - tapping private sector initiative and investment for socially useful purposes - are critical for poverty reduction. In parallel with public sector efforts, private investment, especially in competitive markets, has tremendous potential to contribute to growth. Private markets are the engine of productivity growth, creating productive jobs and higher incomes. And with government playing a complementary role of regulation, funding, and service provision, private initiative and investment can help provide the basic services and conditions that empower poor people - by improving health, education, and infrastructure.

Limitations and Exceptions: Credit to the private sector may sometimes include credit to state-owned or partially state-owned enterprises.

Statistical Concept and Methodology: Credit is an important link in money transmission; it finances production, consumption, and capital formation, which in turn affect economic activity. The data on domestic credit provided to the private sector are taken from the financial corporations survey (line 52D) of the International Monetary Fund's (IMF) International Financial Statistics or, when unavailable, from its depository survey (line 32D). The banking sector includes monetary authorities (the central bank) and deposit money banks, as well as other financial corporations where data are available (including institutions that do not accept transferable deposits but do incur such liabilities as time and savings deposits). Examples of other financial corporations are finance and leasing companies, money lenders, insurance corporations, pension funds, and foreign exchange companies.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Assets