Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Iraq
IRQFCLODCGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
45.03
Year-over-Year Change
109.05%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic indicator tracks outstanding deposits with commercial banks in Iraq as a percentage of the country's gross domestic product (GDP). It provides insights into the level of financial intermediation and the population's engagement with the formal 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 use of financial services is a crucial aspect of economic development. This indicator measures the outstanding deposits held by the public with commercial banks in Iraq, expressed as a percentage of the country's GDP. It reflects the degree to which the Iraqi population is participating in the formal financial system and the overall level of financial intermediation in the economy.
Methodology
The data is collected and reported by the Central Bank of Iraq.
Historical Context
Policymakers and analysts use this indicator to assess the depth and inclusiveness of Iraq's financial sector and monitor progress in financial development.
Key Facts
- Iraq's outstanding bank deposits were 31.9% of GDP in 2020.
- The indicator has increased from 18.4% in 2010, indicating growing financial intermediation.
- Expanding access to formal banking services is a key policy goal for Iraq's economic development.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the outstanding deposits held by the public with commercial banks in Iraq, expressed as a percentage of the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: The use of financial services is a crucial aspect of economic development, and this indicator provides insights into the level of financial intermediation and the population's engagement with the formal banking system in Iraq.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Iraq.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to assess the depth and inclusiveness of Iraq's financial sector and monitor progress in financial 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, as is common with economic indicators in developing countries.
Related Trends
Bank Z-Score for Iraq
DDSI01IQA645NWDB
Total External Debt for Iraq
IRQDGDPGDPPT
Value of Exports to Iraq from North Dakota
NDIRQA052SCEN
Breakeven External Oil Price for Iraq
IRQPZPIOILBEBUSD
Bank's Return on Equity for Iraq
DDEI06IQA156NWDB
Non-Bank Financial Institutions' Assets to GDP for Iraq
DDDI03IQA156NWDB
Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Iraq (IRQFCLODCGGDPPT), retrieved from FRED.