Use of Financial Services: Key Indicators, Outstanding Small and Medium Enterprises (SME) Deposits with Commercial Banks for Iraq
IRQFCLODCSGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.61
Year-over-Year Change
54.91%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic indicator measures the outstanding deposits held by small and medium enterprises (SMEs) with commercial banks in Iraq. It provides insights into the financial health and access to banking services for this important business segment.
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 Small and Medium Enterprises (SME) Deposits with Commercial Banks for Iraq series tracks the value of deposits held by SMEs with commercial banks as a percentage of GDP. This metric serves as a proxy for SME financial inclusion and the level of engagement between Iraq's SMEs and the formal banking system.
Methodology
The data is collected by the Central Bank of Iraq and reported as a percentage of GDP.
Historical Context
This indicator is closely monitored by policymakers and development institutions to assess financial access and the performance of Iraq's SME sector.
Key Facts
- SMEs account for over 90% of businesses in Iraq.
- Iraq's SME deposit-to-GDP ratio is below the regional average.
- Increasing SME financial access is a key priority for Iraq's economic reform agenda.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the value of deposits held by small and medium enterprises (SMEs) with commercial banks in Iraq as a percentage of GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the financial health and inclusion of Iraq's critical SME sector, which is a key driver of economic growth and employment.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Iraq and reported as a percentage of GDP.
Q: How is this trend used in economic policy?
A: Policymakers and development institutions closely monitor this indicator to assess financial access and the performance of Iraq's SME sector, which is a priority for the country's economic reform agenda.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not fully capture the dynamics of Iraq's rapidly evolving SME financial landscape.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Small and Medium Enterprises (SME) Deposits with Commercial Banks for Iraq (IRQFCLODCSGGDPPT), retrieved from FRED.