Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Costa Rica
CRIFCLODCGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
48.40
Year-over-Year Change
17.23%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding deposits with commercial banks in Costa Rica as a percentage of the country's gross domestic product (GDP). It provides insights into the use of financial services and the level of financial inclusion within the Costa Rican 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
The outstanding deposits with commercial banks for Costa Rica is an important indicator of the country's financial development and the public's engagement with the formal banking system. It reflects the level of savings, investment, and overall financial activity within the economy.
Methodology
The data is collected and calculated by the Central Bank of Costa Rica based on commercial bank deposits and GDP figures.
Historical Context
Policymakers and economists use this trend to assess financial sector stability and the effectiveness of policies aimed at promoting financial inclusion.
Key Facts
- Costa Rica's outstanding deposits with commercial banks were 58.3% of GDP in 2020.
- The trend has increased from 47.3% of GDP in 2010, indicating growing financial inclusion.
- Costa Rica has a relatively well-developed banking system compared to other Central American countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding deposits with commercial banks in Costa Rica as a percentage of the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the level of financial inclusion and development within the Costa Rican economy, which is important for policymakers and economists assessing financial sector stability and the effectiveness of policies aimed at promoting financial services access.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Central Bank of Costa Rica based on commercial bank deposits and GDP figures.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess financial sector stability and the effectiveness of policies aimed at promoting financial inclusion in Costa Rica.
Q: Are there update delays or limitations?
A: The data is published regularly by the Central Bank of Costa Rica, with minimal update delays. However, there may be limitations in terms of data quality or coverage in certain time periods.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Costa Rica (CRIFCLODCGGDPPT), retrieved from FRED.