Use of Financial Services: Key Indicators, Outstanding Deposits with Credit Unions and Financial Cooperatives for Lao People's Democratic Republic
LAOFCLODUGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.15
Year-over-Year Change
1015.86%
Date Range
1/1/2009 - 1/1/2023
Summary
This trend measures the outstanding deposits with credit unions and financial cooperatives in Lao PDR as a percentage of GDP. It provides insights into the country's financial inclusion and the public's use of formal financial services.
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 series tracks the level of financial intermediation in Lao PDR. This specific indicator focuses on deposits held with credit unions and financial cooperatives, which are important sources of financial services for underserved populations.
Methodology
The data is collected and reported by the Bank of the Lao PDR.
Historical Context
This metric is used by policymakers and development institutions to assess financial sector development and access to formal financial services in Lao PDR.
Key Facts
- Lao PDR has a largely rural, unbanked population.
- Credit unions and cooperatives are a key source of financial services.
- Deposit levels indicate increasing financial inclusion.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding deposits held with credit unions and financial cooperatives in Lao PDR, expressed as a percentage of the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial inclusion and use of formal financial services in Lao PDR, which is an important indicator of economic development.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Bank of the Lao PDR.
Q: How is this trend used in economic policy?
A: Policymakers and development institutions use this indicator to assess financial sector development and access to formal financial services in Lao PDR.
Q: Are there update delays or limitations?
A: The data is published with some delay, and may be subject to revisions by the reporting agency.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Credit Unions and Financial Cooperatives for Lao People's Democratic Republic (LAOFCLODUGGDPPT), retrieved from FRED.