Use of Financial Services: Key Indicators, Outstanding Deposits of Households with Commercial Banks for Dominican Republic
DOMFCLODCHGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19.54
Year-over-Year Change
43.73%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding deposits of households with commercial banks in the Dominican Republic as a percentage of the country's gross domestic product (GDP). It provides insights into the level of financial inclusion and household savings in the Dominican 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 outstanding deposits of households with commercial banks is an important indicator of financial services usage and household financial health. It reflects the extent to which the population is able to access and utilize formal banking services, which is a key driver of economic development.
Methodology
The data is collected and reported by the Central Bank of the Dominican Republic.
Historical Context
This trend is used by policymakers, economists, and financial analysts to assess the depth of the Dominican financial system and monitor household financial stability.
Key Facts
- The indicator represents over 30% of Dominican GDP.
- Household deposits have grown steadily in recent years.
- Financial inclusion remains a policy priority in the Dominican Republic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding deposits of households with commercial banks in the Dominican Republic as a percentage of the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the level of financial inclusion and household savings in the Dominican economy, which are important drivers of economic development and financial stability.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of the Dominican Republic.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and financial analysts use this trend to assess the depth of the Dominican financial system and monitor household financial stability.
Q: Are there update delays or limitations?
A: The data is reported on a regular basis by the Central Bank of the Dominican Republic, with minimal update delays.
Related Trends
Bank Z-Score for Dominican Republic
DDSI01DOA645NWDB
Value of Exports to Dominican Republic from New Mexico
NMDOMA052SCEN
Use of Financial Services, Liabilities: Outstanding Deposits by Households at Other Deposit Takers for Dominican Republic
DOMFCLODDHXDC
Value of Exports to Dominican Republic from U.S. Virgin Islands
VIDOMA052SCEN
Amount Outstanding Due within One Year of International Debt Securities for Non-financial Corporations Sector, Residence of Issuer in Dominican Republic
IDS1YMAORINCDO
Bank Non-Performing Loans to Gross Loans for Dominican Republic
DDSI02DOA156NWDB
Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits of Households with Commercial Banks for Dominican Republic (DOMFCLODCHGGDPPT), retrieved from FRED.