Use of Financial Services: Key Indicators, Outstanding Deposits with Credit Unions and Financial Cooperatives for Dominican Republic
DOMFCLODUGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.39
Year-over-Year Change
101.86%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding deposits with credit unions and financial cooperatives in the Dominican Republic as a percentage of its GDP. It provides insights into the public's usage of financial services 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: Key Indicators series tracks various financial inclusion metrics in different countries. The Outstanding Deposits with Credit Unions and Financial Cooperatives indicator specifically looks at the public's engagement with cooperative financial institutions and their relative importance to the overall economy.
Methodology
This data is collected and reported by the World Bank's Global Financial Inclusion (Global Findex) database.
Historical Context
This trend is used by economists and policymakers to assess financial sector development and access to banking services.
Key Facts
- This indicator is measured as a percentage of the Dominican Republic's GDP.
- Credit unions and financial cooperatives play a significant role in financial inclusion in the country.
- Tracking this metric helps policymakers understand financial sector development.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding deposits with credit unions and financial cooperatives in the Dominican Republic as a percentage of its GDP.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the public's usage of cooperative financial services, which is an important aspect of financial inclusion and sector development in the country.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank's Global Financial Inclusion (Global Findex) database.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to assess financial sector development and access to banking services in the Dominican Republic.
Q: Are there update delays or limitations?
A: The Global Findex database is updated every three years, so there may be delays in the availability of the most recent data.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Credit Unions and Financial Cooperatives for Dominican Republic (DOMFCLODUGGDPPT), retrieved from FRED.