Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Panama
PANFCLODCGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
110.63
Year-over-Year Change
-22.52%
Date Range
1/1/2007 - 1/1/2023
Summary
This economic trend measures the outstanding deposits with commercial banks in Panama as a percentage of its gross domestic product (GDP). It provides insights into the level of financial intermediation and the development of the banking sector in the Panamanian economy.
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 outstanding deposits with commercial banks for Panama is a key indicator of financial services usage and banking sector development. It represents the total value of deposits held by individuals and businesses with commercial banks in the country, relative to the overall size of the Panamanian economy.
Methodology
The data is collected and reported by the Central Bank of Panama.
Historical Context
This metric is used by policymakers and analysts to assess the financial depth and access to banking services in Panama.
Key Facts
- Panama's outstanding deposits with commercial banks were 86.6% of GDP in 2021.
- This indicator has increased from 68.4% of GDP in 2000, reflecting financial sector growth.
- Panama has one of the most developed banking sectors in Latin America.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of deposits held by individuals and businesses with commercial banks in Panama, as a percentage of the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial intermediation and the development of the banking sector in the Panamanian economy, which is relevant for policymakers and analysts assessing financial depth and access to banking services.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Panama.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and analysts to assess the financial depth and access to banking services in Panama, which is relevant for policies aimed at promoting financial inclusion and economic development.
Q: Are there update delays or limitations?
A: The data is published regularly by the Central Bank of Panama, with minimal update delays.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Panama (PANFCLODCGGDPPT), retrieved from FRED.