Use of Financial Services Borrowers: Households Borrowing from Commercial Banks for Turkey
TURFCRODCHPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
56,765,052.00
Year-over-Year Change
31.49%
Date Range
1/1/2008 - 1/1/2024
Summary
This trend measures the use of financial services by households borrowing from commercial banks in Turkey. It provides insights into the level of household debt and access to credit in the Turkish 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 Borrowers: Households Borrowing from Commercial Banks for Turkey' series tracks the total value of loans and credit extended by commercial banks to Turkish households. This metric offers a window into the financial health and borrowing patterns of Turkish consumers.
Methodology
The data is collected by the Central Bank of the Republic of Turkey through surveys of commercial banking institutions.
Historical Context
This trend is closely watched by economists, policymakers, and market analysts to gauge consumer credit conditions and domestic demand in Turkey.
Key Facts
- Turkey's household borrowing from commercial banks was 3.18 trillion Turkish Lira in 2021.
- Household debt as a percentage of GDP in Turkey reached 20.6% in 2020.
- The COVID-19 pandemic led to a sharp decline in household borrowing in Turkey in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of loans and credit extended by commercial banks to households in Turkey.
Q: Why is this trend relevant for users or analysts?
A: This metric offers insights into the financial health and borrowing patterns of Turkish consumers, which is crucial for understanding domestic demand and credit conditions in the Turkish economy.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of the Republic of Turkey through surveys of commercial banking institutions.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this trend to gauge consumer credit conditions and make informed decisions about monetary and fiscal policies in Turkey.
Q: Are there update delays or limitations?
A: The data is published with a relatively short lag, typically within a few months of the reference period.
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Citation
U.S. Federal Reserve, Use of Financial Services Borrowers: Households Borrowing from Commercial Banks for Turkey (TURFCRODCHPENUM), retrieved from FRED.