Use of Financial Services, Liabilities: Outstanding Deposits at Other Deposit Takers for Gambia, The
GMBFCLODDXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15,000,000.00
Year-over-Year Change
2.04%
Date Range
1/1/2004 - 1/1/2017
Summary
This economic trend measures the outstanding deposits held at other deposit-taking institutions in The Gambia. It provides insight into the use of financial services and the overall health of the Gambian banking 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 deposits at other deposit takers, such as microfinance institutions and credit unions, represent a key indicator of financial inclusion and the public's utilization of the broader financial system in The Gambia.
Methodology
The data is collected and reported by the Central Bank of The Gambia.
Historical Context
This metric is used by policymakers and analysts to monitor the depth and breadth of financial intermediation in the Gambian economy.
Key Facts
- The Gambia is a West African country with a population of over 2.4 million.
- The Gambian banking sector consists of 12 commercial banks and several other deposit-taking institutions.
- Financial inclusion remains a challenge, with only about 21% of adults having a bank account as of 2017.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding deposits held at deposit-taking institutions in The Gambia, excluding commercial banks. It provides insight into the broader use of financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for assessing the depth and breadth of financial intermediation in The Gambia, which is crucial for supporting economic development and financial inclusion.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of The Gambia.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to monitor the growth and accessibility of the Gambian financial system, which informs policies aimed at promoting financial inclusion and economic development.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be limitations in coverage or reporting accuracy due to the challenges of financial data collection in developing economies.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits at Other Deposit Takers for Gambia, The (GMBFCLODDXDC), retrieved from FRED.