Use of Financial Services: Key Indicators, Outstanding Deposits with Credit Unions and Financial Cooperatives for Samoa
WSMFCLODUGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.23
Year-over-Year Change
822.17%
Date Range
1/1/2012 - 1/1/2023
Summary
This economic indicator tracks the outstanding deposits with credit unions and financial cooperatives in Samoa as a percentage of the country's gross domestic product (GDP). It provides insights into the level of financial inclusion and the importance of cooperative financial institutions in the Samoan 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, particularly deposits with credit unions and financial cooperatives, is a crucial indicator of financial inclusion and the development of the financial sector in a country. This trend measures the deposits held with these types of institutions in Samoa and contextualizes their significance by expressing them as a percentage of the country's GDP.
Methodology
The data is collected and calculated by the World Bank based on reports from national authorities in Samoa.
Historical Context
This indicator is used by policymakers, economists, and financial analysts to assess the depth and breadth of financial services in Samoa and inform policies aimed at promoting financial inclusion and the growth of the cooperative financial sector.
Key Facts
- Samoa's outstanding deposits with credit unions and financial cooperatives were 7.8% of GDP in 2020.
- The use of cooperative financial services in Samoa has grown steadily over the past decade.
- Credit unions and financial cooperatives play a significant role in providing access to financial services in Samoa.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the outstanding deposits with credit unions and financial cooperatives in Samoa as a percentage of the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the level of financial inclusion and the importance of cooperative financial institutions in the Samoan economy, which is useful for policymakers, economists, and financial analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on reports from national authorities in Samoa.
Q: How is this trend used in economic policy?
A: This indicator is used by policymakers, economists, and financial analysts to assess the depth and breadth of financial services in Samoa and inform policies aimed at promoting financial inclusion and the growth of the cooperative financial sector.
Q: Are there update delays or limitations?
A: The data may be subject to update delays and potential limitations in reporting by national authorities in Samoa.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Credit Unions and Financial Cooperatives for Samoa (WSMFCLODUGGDPPT), retrieved from FRED.