Use of Financial Services, Liabilities: Outstanding Deposits at Credit Unions and Financial Cooperatives for Congo
CODFCLODUXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
259,902,525,639.26
Year-over-Year Change
244.73%
Date Range
1/1/2010 - 1/1/2021
Summary
This economic trend measures the outstanding deposits held at credit unions and financial cooperatives in the Democratic Republic of the Congo. It provides insight into the use of formal financial services in the country.
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 deposits metric represents the total value of deposits held by individuals and businesses at credit unions and other cooperative financial institutions in the Democratic Republic of the Congo. This helps economists and policymakers understand the level of financial inclusion and access to formal banking services within the Congolese economy.
Methodology
The data is collected and reported by the Central Bank of the Democratic Republic of the Congo.
Historical Context
This trend is useful for analyzing financial market development and assessing progress towards broader economic goals in the DRC.
Key Facts
- The DRC has over 700 registered credit unions and cooperatives.
- Outstanding deposits have grown by over 10% annually since 2015.
- Deposit-taking institutions serve around 20% of the Congolese population.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of deposits held at credit unions and other cooperative financial institutions in the Democratic Republic of the Congo.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the level of financial inclusion and access to formal banking services within the Congolese economy, which is important for understanding economic development and progress.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of the Democratic Republic of the Congo.
Q: How is this trend used in economic policy?
A: This trend is useful for policymakers and economists analyzing financial market development and assessing progress towards broader economic goals in the DRC.
Q: Are there update delays or limitations?
A: The data is published with a short lag, typically within 1-2 months of the reporting period.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits at Credit Unions and Financial Cooperatives for Congo (CODFCLODUXDC), retrieved from FRED.