Use of Financial Services: Key Indicators, Outstanding Loans from Commercial Banks for Ethiopia
ETHFCSODCGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26.83
Year-over-Year Change
60.85%
Date Range
1/1/2004 - 1/1/2022
Summary
This economic trend tracks the use of financial services in Ethiopia by measuring outstanding loans from commercial banks as a percentage of GDP. It provides insights into the depth and accessibility of the country's financial system.
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 Loans from Commercial Banks for Ethiopia series represents the total value of loans issued by commercial banks in the country, expressed as a percentage of gross domestic product (GDP). This metric is a key indicator of financial inclusion and the development of Ethiopia's banking and credit sector.
Methodology
The data is collected by the National Bank of Ethiopia and reported to the International Monetary Fund's International Financial Statistics database.
Historical Context
Policymakers and economists use this trend to assess the financial health and growth potential of Ethiopia's economy.
Key Facts
- Ethiopia's outstanding loans from commercial banks were 18.4% of GDP in 2020.
- The trend has grown from 12.5% in 2010 to 18.4% in 2020, indicating increased financial access.
- Access to credit remains limited compared to other African economies.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding loans from commercial banks in Ethiopia as a percentage of the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the depth and accessibility of Ethiopia's financial system, which is an important indicator of economic development and growth potential.
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's International Financial Statistics database.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the financial health and credit environment of Ethiopia's economy, which informs decisions on financial sector reforms and development strategies.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be differences in reporting or definitions across countries that limit direct comparisons.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Loans from Commercial Banks for Ethiopia (ETHFCSODCGGDPPT), retrieved from FRED.