Use of Financial Services Deposit Accounts: Household Accounts at Commercial Banks for Saudi Arabia
SAUFCAODCHNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
55,670,411.00
Year-over-Year Change
359.47%
Date Range
1/1/2009 - 1/1/2023
Summary
This economic trend measures the number of household deposit accounts at commercial banks in Saudi Arabia. It provides insights into the use of financial services and household banking behavior in the Saudi Arabian 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 Use of Financial Services Deposit Accounts: Household Accounts at Commercial Banks for Saudi Arabia represents the total number of deposit accounts held by households at commercial banks operating in Saudi Arabia. This data point is used by economists and policymakers to analyze financial inclusion, household savings, and the overall development of the Saudi banking sector.
Methodology
The data is collected by the Saudi Arabian Monetary Authority through surveys of commercial banks operating in the country.
Historical Context
This trend is relevant for assessing the depth and breadth of financial intermediation in Saudi Arabia, which is a key indicator of economic development and stability.
Key Facts
- Saudi Arabia has over 25 million deposit accounts held by households.
- The total value of household deposits in Saudi Arabia exceeds $500 billion.
- The number of household deposit accounts has grown by 7% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held by households at commercial banks operating in Saudi Arabia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the depth of financial inclusion and the overall development of the Saudi banking sector, which are key indicators of economic stability and growth.
Q: How is this data collected or calculated?
A: The data is collected by the Saudi Arabian Monetary Authority through surveys of commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the effectiveness of financial inclusion initiatives and to inform decisions on banking regulation and development strategies.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Household Accounts at Commercial Banks for Saudi Arabia (SAUFCAODCHNUM), retrieved from FRED.