Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Gambia, The
GMBFCLODCGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41.08
Year-over-Year Change
37.84%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding deposits with commercial banks in Gambia as a percentage of its gross domestic product (GDP). It provides insights into the level of financial intermediation and the use of banking 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, Outstanding Deposits with Commercial Banks for Gambia, The trend represents the total value of deposits held by individuals and businesses in commercial banks in Gambia, expressed as a percentage of the country's GDP. This metric is used to assess the depth and breadth of the financial sector and the degree of financial inclusion in the economy.
Methodology
The data is collected and reported by the Central Bank of Gambia.
Historical Context
This indicator is relevant for policymakers and economists analyzing the development and stability of Gambia's financial system.
Key Facts
- Gambia's commercial bank deposits as a percentage of GDP stood at 29.9% in 2021.
- The trend has increased from 23.9% in 2010, indicating growing financial intermediation.
- Gambia's ratio is lower than the sub-Saharan African average of 35.5% in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding deposits with commercial banks in Gambia as a percentage of its gross domestic product (GDP), providing insights into the level of financial intermediation and use of banking services in the country.
Q: Why is this trend relevant for users or analysts?
A: This indicator is relevant for policymakers and economists analyzing the development and stability of Gambia's financial system, as it reflects the depth and breadth of financial intermediation in the economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Gambia.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and economists to assess the level of financial inclusion and the development of the financial sector in Gambia, which can inform policy decisions and reforms aimed at promoting economic growth and stability.
Q: Are there update delays or limitations?
A: The data is subject to the reporting schedule and potential delays of the Central Bank of Gambia, and may not capture all aspects of financial intermediation in the country.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Gambia, The (GMBFCLODCGGDPPT), retrieved from FRED.