Use of Financial Services: Key Indicators, Outstanding Deposits with Credit Unions and Financial Cooperatives for Papua New Guinea
PNGFCLODUGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.15
Year-over-Year Change
-16.24%
Date Range
1/1/2004 - 1/1/2014
Summary
This economic trend measures the outstanding deposits held with credit unions and financial cooperatives in Papua New Guinea as a percentage of its gross domestic product (GDP). It provides insights into the use and penetration of formal financial services 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 series tracks various metrics related to the adoption and utilization of financial products and services in different economies. The outstanding deposits with credit unions and financial cooperatives indicator specifically examines the level of savings and deposits channeled through these cooperative financial institutions.
Methodology
The data is collected and reported by the International Monetary Fund (IMF).
Historical Context
Policymakers and analysts use this metric to assess the financial inclusion and depth of the Papua New Guinean economy.
Key Facts
- Papua New Guinea's outstanding deposits with credit unions and financial cooperatives were 4.6% of GDP in 2019.
- The indicator has shown a steady increase over the past decade, reflecting greater financial inclusion.
- Cooperative financial institutions play a significant role in Papua New Guinea's financial ecosystem.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding deposits held with credit unions and financial cooperatives in Papua New Guinea as a percentage of its 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 the role of cooperative financial institutions in the Papua New Guinean economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the International Monetary Fund (IMF).
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the financial depth and inclusion in the Papua New Guinean economy.
Q: Are there update delays or limitations?
A: The data is published annually by the IMF, with potential delays in reporting.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Credit Unions and Financial Cooperatives for Papua New Guinea (PNGFCLODUGGDPPT), retrieved from FRED.