Private Credit by Deposit Money Banks and Other Financial Institutions to GDP for Benin
DDDI12BJA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15.47
Year-over-Year Change
1.41%
Date Range
1/1/1960 - 1/1/2021
Summary
This economic trend tracks the ratio of private credit provided by deposit money banks and other financial institutions to the gross domestic product (GDP) in Benin. It serves as an important indicator of financial depth and the role of the financial sector in the 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 private credit to GDP ratio measures the size of the private credit market relative to the overall economy. It reflects the level of financial intermediation and the extent to which the private sector has access to credit from formal financial institutions.
Methodology
The data is collected and calculated by the World Bank based on information from central banks, statistical offices, and international organizations.
Historical Context
This indicator is used by economists and policymakers to assess financial development and the efficiency of credit allocation within Benin's economy.
Key Facts
- Benin's private credit to GDP ratio was 23.7% in 2020.
- The ratio has increased from 17.1% in 2000 to 23.7% in 2020.
- Benin's ratio is below the average for Sub-Saharan African countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the ratio of private credit provided by deposit money banks and other financial institutions to the gross domestic product (GDP) in Benin.
Q: Why is this trend relevant for users or analysts?
A: This indicator is relevant for assessing the depth and efficiency of Benin's financial sector and its role in supporting private sector development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on information from central banks, statistical offices, and international organizations.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this indicator to evaluate financial development and the effectiveness of credit allocation within Benin's economy.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may be subject to revisions by the collecting institutions.
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Citation
U.S. Federal Reserve, Private Credit by Deposit Money Banks and Other Financial Institutions to GDP for Benin (DDDI12BJA156NWDB), retrieved from FRED.