Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Dominican Republic
DOMFCAODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,909,848.00
Year-over-Year Change
57.75%
Date Range
1/1/2012 - 1/1/2023
Summary
This trend measures the number of deposit accounts at commercial banks in the Dominican Republic. It provides insights into the use of financial services and banking activity in the country.
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 Deposit Accounts: Accounts at Commercial Banks for Dominican Republic series tracks the total number of deposit accounts held at commercial banks within the Dominican Republic. This metric is used by economists and policymakers to gauge the level of financial inclusion and banking sector development in the country.
Methodology
The data is collected directly from the Central Bank of the Dominican Republic.
Historical Context
This trend is relevant for understanding the growth and accessibility of the Dominican Republic's banking system and financial services sector.
Key Facts
- The number of deposit accounts in the Dominican Republic has grown steadily since 2010.
- Increased account ownership is a key indicator of financial inclusion in developing economies.
- Access to banking services supports economic development and poverty reduction.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held at commercial banks in the Dominican Republic.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial inclusion and the development of the banking sector in the Dominican Republic.
Q: How is this data collected or calculated?
A: The data is collected directly from the Central Bank of the Dominican Republic.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the growth and accessibility of financial services in the Dominican Republic.
Q: Are there update delays or limitations?
A: The data is published regularly by the Central Bank, but there may be some delays in reporting.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Dominican Republic (DOMFCAODCNUM), retrieved from FRED.