Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Maldives
MDVFCLODCGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
52.85
Year-over-Year Change
23.56%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend tracks outstanding deposits with commercial banks in Maldives as a percentage of GDP. It provides insights into the country's financial services usage and household savings behavior.
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 Deposits with Commercial Banks for Maldives' series measures the value of deposits held by the public with commercial banks in Maldives, expressed as a percentage of the country's gross domestic product. This metric offers perspectives on financial inclusion and the public's engagement with the formal banking system.
Methodology
The data is collected by the Maldives Monetary Authority and reported to the International Monetary Fund.
Historical Context
Policymakers use this indicator to assess the depth of financial intermediation and development in Maldives.
Key Facts
- Maldives' outstanding bank deposits equaled 54.3% of GDP in 2021.
- Deposit growth has averaged 8.6% annually over the past decade.
- The indicator reached a high of 59.3% of GDP in 2013.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the value of deposits held by the public with commercial banks in Maldives, expressed as a percentage of the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: This indicator offers insights into financial inclusion and the public's engagement with the formal banking system in Maldives, which is relevant for policymakers and economists analyzing the country's financial development.
Q: How is this data collected or calculated?
A: The data is collected by the Maldives Monetary Authority and reported to the International Monetary Fund.
Q: How is this trend used in economic policy?
A: Policymakers use this indicator to assess the depth of financial intermediation and development in Maldives.
Q: Are there update delays or limitations?
A: The data is reported on a regular basis with minimal delays, providing timely insights into Maldives' financial services usage.
Related Trends
Use of Financial Services, Liabilities: Outstanding Deposits at Other Other Financial Intermediaries for Maldives
MDVFCLOFOXDC
Number of Identified Exporters to Maldives from Missouri
MOMDVA475SCEN
Value of Exports to Maldives from Ohio
OHMDVA052SCEN
Number of Identified Exporters to Maldives from Nebraska
NEMDVA475SCEN
Private Credit by Deposit Money Banks to GDP for Maldives
DDDI01MVA156NWDB
Central Bank Assets to GDP for Maldives
DDDI06MVA156NWDB
Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Maldives (MDVFCLODCGGDPPT), retrieved from FRED.