Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for St. Vincent and the Grenadines
SVGFCLODCGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
61.40
Year-over-Year Change
11.26%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding deposits with commercial banks in St. Vincent and the Grenadines as a percentage of the country's gross domestic product (GDP). It provides insights into the use of financial services and the overall level of financial inclusion in the 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: Key Indicators, Outstanding Deposits with Commercial Banks for St. Vincent and the Grenadines trend represents the total value of deposits held by individuals and businesses with commercial banks, expressed as a percentage of the country's GDP. This metric is used by economists and policymakers to assess the level of financial intermediation and the depth of the banking sector in the country.
Methodology
The data is collected by the national statistical agency and the central bank of St. Vincent and the Grenadines.
Historical Context
This indicator is relevant for understanding the development of the financial sector and informing financial inclusion policies.
Key Facts
- St. Vincent and the Grenadines is a small island country in the Caribbean.
- The outstanding deposits with commercial banks were 51.2% of GDP in 2020.
- Financial inclusion is a key development priority for the government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding deposits with commercial banks in St. Vincent and the Grenadines as a percentage of the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the level of financial intermediation and the depth of the banking sector in the country, which is relevant for understanding financial inclusion and the development of the financial sector.
Q: How is this data collected or calculated?
A: The data is collected by the national statistical agency and the central bank of St. Vincent and the Grenadines.
Q: How is this trend used in economic policy?
A: This indicator is used by economists and policymakers to inform financial inclusion policies and understand the development of the financial sector in St. Vincent and the Grenadines.
Q: Are there update delays or limitations?
A: The data is published regularly by the national statistical agency, but there may be some delays in reporting due to the small size of the economy.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for St. Vincent and the Grenadines (SVGFCLODCGGDPPT), retrieved from FRED.