Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Ecuador
ECUFCLODCGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38.79
Year-over-Year Change
71.14%
Date Range
1/1/2004 - 1/1/2023
Summary
This trend measures the outstanding deposits with commercial banks in Ecuador as a percentage of the country's gross domestic product. It provides insight into the level of financial intermediation and development within the Ecuadorian 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 with commercial banks indicator represents the total value of deposits held by individuals and businesses with commercial banks in Ecuador. This metric is used to assess the financial depth and inclusiveness of the Ecuadorian banking system.
Methodology
The data is collected by the Central Bank of Ecuador and calculated as a ratio of commercial bank deposits to GDP.
Historical Context
This indicator is relevant for policymakers and analysts evaluating the financial health and access to banking services within the Ecuadorian economy.
Key Facts
- Ecuador's commercial bank deposits were 39.5% of GDP in 2021.
- Deposits have grown from 28.2% of GDP in 2010.
- Increasing financial inclusion is a policy goal in Ecuador.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding deposits held by individuals and businesses with commercial banks in Ecuador, expressed as a percentage of the country's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the level of financial intermediation and development within the Ecuadorian economy, which is relevant for policymakers and analysts evaluating the financial health and access to banking services.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Ecuador and calculated as a ratio of commercial bank deposits to GDP.
Q: How is this trend used in economic policy?
A: This indicator is used by policymakers and institutions to assess the financial depth and inclusiveness of the Ecuadorian banking system, which can inform policies aimed at promoting financial access and development.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be limitations in capturing all commercial bank deposits in the country.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Ecuador (ECUFCLODCGGDPPT), retrieved from FRED.