Use of Financial Services: Key Indicators, Outstanding Deposits with Credit Unions and Financial Cooperatives for Solomon Islands
SLBFCLODUGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.34
Year-over-Year Change
-45.72%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding deposits with credit unions and financial cooperatives in Solomon Islands as a percentage of its gross domestic product (GDP). It provides insights into the use 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, Outstanding Deposits with Credit Unions and Financial Cooperatives for Solomon Islands tracks the total value of deposits held with credit unions and financial cooperatives in the country. This metric is used to assess the level of financial inclusion and access to formal banking services among the population.
Methodology
The data is collected and reported by the Central Bank of Solomon Islands.
Historical Context
This trend is relevant for policymakers and analysts studying financial sector development and financial inclusion in Solomon Islands.
Key Facts
- Solomon Islands is a developing country in the South Pacific.
- Credit unions and financial cooperatives play a key role in providing financial services.
- Deposits with these institutions are equivalent to around 5% of the country's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of deposits held with credit unions and financial cooperatives in Solomon Islands as a percentage of its gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial inclusion and access to formal banking services in Solomon Islands, which is important for understanding the country's financial sector development.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Solomon Islands.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers and analysts studying financial sector development and financial inclusion in Solomon Islands.
Q: Are there update delays or limitations?
A: The data may be subject to occasional delays in reporting or updates by the central bank.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Credit Unions and Financial Cooperatives for Solomon Islands (SLBFCLODUGGDPPT), retrieved from FRED.