Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Ethiopia
ETHFCLODCGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.20
Year-over-Year Change
-19.01%
Date Range
1/1/2004 - 1/1/2022
Summary
This economic trend measures the outstanding deposits with commercial banks in Ethiopia as a percentage of the country's GDP. It provides insights into the level of financial inclusion and the public's utilization of banking services.
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 for Ethiopia metric represents the total value of deposits held by individuals and businesses in the country's commercial banking system. This indicator is used by economists and policymakers to assess the development and accessibility of the financial sector.
Methodology
The data is collected by the National Bank of Ethiopia and reported to the International Monetary Fund.
Historical Context
This trend is relevant for understanding financial sector development and the extent of financial inclusion in the Ethiopian economy.
Key Facts
- Ethiopia's outstanding deposits with commercial banks were 25.6% of GDP in 2021.
- The financial services sector accounts for 3.4% of Ethiopia's GDP.
- The government aims to increase financial inclusion to 60% of the population by 2025.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding deposits with commercial banks in Ethiopia as a percentage of the country's GDP, providing insights into the level of financial inclusion.
Q: Why is this trend relevant for users or analysts?
A: This indicator is used by economists and policymakers to assess the development and accessibility of the financial sector in Ethiopia.
Q: How is this data collected or calculated?
A: The data is collected by the National Bank of Ethiopia and reported to the International Monetary Fund.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding financial sector development and the extent of financial inclusion in the Ethiopian economy, which is a key policy focus for the government.
Q: Are there update delays or limitations?
A: The data is reported annually, and there may be some delays in publication.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Ethiopia (ETHFCLODCGGDPPT), retrieved from FRED.