Use of Financial Services: Key Indicators, Outstanding Loans from Commercial Banks for Senegal
SENFCSODCGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39.88
Year-over-Year Change
63.23%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding loans from commercial banks for Senegal as a percentage of its gross domestic product (GDP). It provides insights into the use and availability of 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, Outstanding Loans from Commercial Banks for Senegal series tracks the volume of outstanding loans extended by commercial banks in Senegal relative to the size of its economy. This metric is used to assess the depth and accessibility of the country's financial system.
Methodology
The data is collected and calculated by the World Bank from official sources.
Historical Context
This indicator is relevant for policymakers and analysts evaluating financial inclusion and the development of Senegal's banking sector.
Key Facts
- Senegal's outstanding commercial bank loans were 24.7% of GDP in 2021.
- This indicator has increased from 19.2% in 2010, suggesting growing financial access.
- Senegal aims to reach 75% financial inclusion by 2024 under its national strategy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the volume of outstanding loans from commercial banks in Senegal as a percentage of its gross domestic product (GDP). It reflects the depth and accessibility of the country's financial system.
Q: Why is this trend relevant for users or analysts?
A: This indicator is relevant for assessing financial inclusion and the development of Senegal's banking sector, which are important for supporting economic growth and poverty reduction.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank from official sources.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to evaluate the progress of Senegal's efforts to improve financial access and inclusion as part of its national development strategy.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may not capture the most recent changes in Senegal's financial sector.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Loans from Commercial Banks for Senegal (SENFCSODCGGDPPT), retrieved from FRED.