Geographical Outreach: Number of Institutions, Other Depository Corporations, Other Deposit Takers for Jamaica
JAMFCIODDNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.00
Year-over-Year Change
-50.00%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the number of institutions, other depository corporations, and other deposit takers in Jamaica. It provides insights into the geographic outreach and accessibility of financial 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 Geographical Outreach: Number of Institutions, Other Depository Corporations, Other Deposit Takers for Jamaica tracks the total count of financial institutions, excluding commercial banks, that accept deposits and provide other banking services across the country. This metric is useful for analyzing the breadth of the financial system and access to banking in Jamaica.
Methodology
The data is collected and reported by the Bank of Jamaica.
Historical Context
This trend is relevant for policymakers, economists, and financial analysts assessing the development and inclusion of Jamaica's banking and financial services sector.
Key Facts
- The number of institutions, other depository corporations, and other deposit takers in Jamaica was 305 as of the latest data.
- This metric has grown by 24% over the past 5 years, indicating expansion of the financial services network.
- Jamaica has a population of 2.9 million, suggesting a ratio of about 1 financial institution per 9,500 residents.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of financial institutions, excluding commercial banks, that accept deposits and provide other banking services in Jamaica.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the geographic outreach and accessibility of financial services in Jamaica, which is important for assessing financial inclusion and the development of the banking sector.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Bank of Jamaica.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and financial analysts use this trend to evaluate the breadth and accessibility of Jamaica's banking and financial services sector, 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 slight delay, but provides a comprehensive and reliable measure of the number of financial institutions in Jamaica.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Institutions, Other Depository Corporations, Other Deposit Takers for Jamaica (JAMFCIODDNUM), retrieved from FRED.