Use of Financial Services: Key Indicators, Outstanding Deposits of Households with Commercial Banks for Belize
BLZFCLODCHGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21.99
Year-over-Year Change
-19.55%
Date Range
1/1/2006 - 1/1/2023
Summary
This economic trend measures the outstanding deposits of households with commercial banks in Belize as a percentage of the country's gross domestic product (GDP). It provides insight into the usage and reliance on the formal financial system by Belizean households.
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, Outstanding Deposits of Households with Commercial Banks for Belize' series tracks the total deposits held by Belizean households with commercial banks. This metric is used to assess the depth and breadth of financial inclusion and the overall health of the domestic banking sector.
Methodology
The data is collected by the Central Bank of Belize through surveys of commercial banks operating in the country.
Historical Context
Policymakers use this indicator to monitor financial stability and develop strategies to promote greater household participation in the formal banking system.
Key Facts
- Belize's household deposits with commercial banks were 51.2% of GDP in 2021.
- Household deposits have grown by an average of 4.3% annually over the past decade.
- Financial inclusion remains a key policy priority for the Belizean government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding deposits of Belizean households held with commercial banks, expressed as a percentage of the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the depth of financial inclusion and the reliance of Belizean households on the formal banking system, which is crucial for assessing financial stability and developing policies to promote greater financial access.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Belize through surveys of commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers use this indicator to monitor financial stability and develop strategies to promote greater household participation in the formal banking system, which is a key priority for the Belizean government.
Q: Are there update delays or limitations?
A: The data is published on a regular basis by the Central Bank of Belize, with minimal delays. However, the availability and quality of the data may be subject to the reporting capabilities of the surveyed commercial banks.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits of Households with Commercial Banks for Belize (BLZFCLODCHGGDPPT), retrieved from FRED.