Use of Financial Services: Key Indicators, Outstanding Loans from Commercial Banks for Jamaica
JAMFCSODCGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
42.79
Year-over-Year Change
99.56%
Date Range
1/1/2004 - 1/1/2023
Summary
This trend measures the outstanding loans from commercial banks in Jamaica as a percentage of the country's GDP. It provides insights into the level of financial intermediation and the health of the banking sector.
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 economic indicator that reflects the degree of financial inclusion and the role of the banking system in supporting economic growth. This metric tracks the outstanding loans from commercial banks in Jamaica relative to the country's GDP, shedding light on the depth and breadth of financial intermediation.
Methodology
The data is collected and calculated by the Central Bank of Jamaica.
Historical Context
This trend is relevant for policymakers, economists, and investors to assess the financial stability and development of the Jamaican economy.
Key Facts
- Jamaica's outstanding commercial bank loans were 39.4% of GDP in 2020.
- The trend has declined from a high of 53.4% in 2011.
- Improving financial inclusion is a key policy goal for the Jamaican government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding loans from commercial banks in Jamaica as a percentage of the country's GDP. It provides insights into the level of financial intermediation and the health of the banking sector.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers, economists, and investors to assess the financial stability and development of the Jamaican economy. It reflects the depth and breadth of financial intermediation, which is crucial for supporting economic growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Central Bank of Jamaica.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and economists to monitor the financial sector's performance and inform policies aimed at promoting financial inclusion and economic development in Jamaica.
Q: Are there update delays or limitations?
A: The data is published regularly by the Central Bank of Jamaica, but there may be some delays in reporting and potential limitations in coverage or accuracy.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Loans from Commercial Banks for Jamaica (JAMFCSODCGGDPPT), retrieved from FRED.