Use of Financial Services: Key Indicators, Outstanding Deposits of Households with Commercial Banks for Namibia
NAMFCLODCHGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.91
Year-over-Year Change
-67.59%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend tracks the outstanding deposits of households with commercial banks in Namibia as a percentage of GDP. It provides insights into the level of household savings and financial inclusion 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 Use of Financial Services: Key Indicators, Outstanding Deposits of Households with Commercial Banks for Namibia metric measures the value of household deposits held in Namibian commercial banks relative to the country's overall economic output. This indicator is used to assess the degree of financial intermediation and access to banking services within the Namibian economy.
Methodology
The data is collected by the Bank of Namibia and calculated as a ratio of total household deposits to GDP.
Historical Context
This trend is relevant for policymakers and analysts seeking to understand the financial health and saving patterns of Namibian households.
Key Facts
- Namibia's household deposit ratio averaged 32% of GDP from 2010 to 2020.
- The ratio reached a high of 35.2% in 2017 before declining to 30.9% in 2020.
- Improving financial inclusion is a key policy priority for the Namibian government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding deposits of Namibian households held in commercial banks as a percentage of the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the level of financial inclusion and household savings in Namibia, which are important factors for policymakers and economists assessing the country's economic development and financial stability.
Q: How is this data collected or calculated?
A: The data is collected by the Bank of Namibia and calculated as the ratio of total household deposits to the country's GDP.
Q: How is this trend used in economic policy?
A: Policymakers and institutions use this trend to monitor financial intermediation, household saving patterns, and progress towards improving financial inclusion in the Namibian economy.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be limitations in coverage or consistency over time due to changes in data collection or reporting methods.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits of Households with Commercial Banks for Namibia (NAMFCLODCHGGDPPT), retrieved from FRED.