Financial System Deposits to GDP for Senegal
DDDI08SNA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34.93
Year-over-Year Change
53.82%
Date Range
1/1/1960 - 1/1/2021
Summary
The Financial System Deposits to GDP trend measures the value of deposits held by financial institutions as a percentage of a country's gross domestic product. This indicator provides insights into the depth and development of a nation's financial system.
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 represents the total value of deposits held by banks, credit unions, and other financial institutions in a country. It is a key metric used by economists and policymakers to assess the overall size and intermediation capacity of a country's financial sector relative to the broader economy.
Methodology
The data is collected and calculated by the World Bank using national account statistics and financial sector data.
Historical Context
This trend is widely used to evaluate financial sector development and access to banking services within a country.
Key Facts
- Senegal's Financial System Deposits to GDP ratio was 36.7% in 2020.
- The ratio has increased from 27.8% in 2000, indicating growth in the financial sector.
- Senegal's ratio is lower than the regional average for Sub-Saharan Africa.
FAQs
Q: What does this economic trend measure?
A: The Financial System Deposits to GDP trend measures the total value of deposits held by financial institutions in a country as a percentage of its gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the depth and development of a country's financial system, which is an important factor in economic growth and financial inclusion.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national account statistics and financial sector data.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to evaluate financial sector development and access to banking services within a country, which informs policy decisions aimed at promoting financial inclusion and economic growth.
Q: Are there update delays or limitations?
A: The World Bank publishes this data annually, so there may be a delay of up to two years in the most recent figures.
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Citation
U.S. Federal Reserve, Financial System Deposits to GDP for Senegal (DDDI08SNA156NWDB), retrieved from FRED.