Financial System Deposits to GDP for Jamaica
DDDI08JMA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
68.71
Year-over-Year Change
68.87%
Date Range
1/1/1960 - 1/1/2021
Summary
The Financial System Deposits to GDP ratio measures the total value of deposits held in Jamaica's financial system relative to the country's gross domestic product. This metric provides insights into the depth and stability of Jamaica's financial sector.
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 Financial System Deposits to GDP ratio is an important indicator of financial intermediation and the overall development of Jamaica's banking and deposit-taking institutions. It reflects the extent to which the financial system mobilizes savings and provides credit to the economy.
Methodology
The data is collected by the World Bank and calculated as the value of demand, time and saving deposits in deposit money banks and other financial institutions divided by GDP.
Historical Context
This ratio is widely used by policymakers and analysts to assess the soundness and efficiency of Jamaica's financial system and its ability to support economic growth.
Key Facts
- Jamaica's Financial System Deposits to GDP ratio was 66.7% in 2020.
- The ratio has increased from 52.5% in 2010, indicating growing financial depth.
- Higher ratios are associated with more efficient financial intermediation and economic growth.
FAQs
Q: What does this economic trend measure?
A: The Financial System Deposits to GDP ratio measures the total value of deposits held in Jamaica's financial system relative to the country's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This ratio provides insights into the depth and stability of Jamaica's financial sector, which is crucial for supporting economic growth and development.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank and calculated as the value of demand, time and saving deposits in deposit money banks and other financial institutions divided by GDP.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this ratio to assess the soundness and efficiency of Jamaica's financial system and its ability to support economic growth.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, so there may be a delay of up to a year in the most recent figures.
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Citation
U.S. Federal Reserve, Financial System Deposits to GDP for Jamaica (DDDI08JMA156NWDB), retrieved from FRED.