Use of Financial Services: Key Indicators, Outstanding Loans from Credit Unions and Financial Cooperatives for Costa Rica
CRIFCSODUGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.46
Year-over-Year Change
53.74%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend tracks the outstanding loans from credit unions and financial cooperatives in Costa Rica as a percentage of the country's GDP. It provides insights into the use and importance of these financial services 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 Use of Financial Services: Key Indicators, Outstanding Loans from Credit Unions and Financial Cooperatives for Costa Rica series measures the total value of outstanding loans from credit unions and financial cooperatives in Costa Rica, expressed as a percentage of the country's GDP. This metric offers insights into the role and penetration of these cooperative financial institutions within the broader Costa Rican financial system.
Methodology
The data is collected and calculated by the Central Bank of Costa Rica.
Historical Context
This trend is used by economists and policymakers to assess the level of financial inclusion and the importance of cooperative finance in the Costa Rican economy.
Key Facts
- Costa Rica has a well-developed cooperative finance sector.
- Loans from credit unions and cooperatives account for over 5% of Costa Rica's GDP.
- The cooperative finance sector plays a significant role in serving rural and underbanked populations in Costa Rica.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding loans from credit unions and financial cooperatives in Costa Rica as a percentage of the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the role and importance of cooperative finance within the Costa Rican financial system, which is particularly relevant for understanding financial inclusion and the broader economic development of the country.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Central Bank of Costa Rica.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the level of financial inclusion and the significance of the cooperative finance sector in the Costa Rican economy.
Q: Are there update delays or limitations?
A: The data is published regularly by the Central Bank of Costa Rica, with minimal update delays.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Loans from Credit Unions and Financial Cooperatives for Costa Rica (CRIFCSODUGGDPPT), retrieved from FRED.