Use of Financial Services, Liabilities: Outstanding Deposits by Households at Commercial Banks for Zimbabwe
ZWEFCLODCHXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
162,070,300,000.00
Year-over-Year Change
41064.10%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding deposits held by households at commercial banks in Zimbabwe. It provides insight into the use of basic financial services by the general population.
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 outstanding deposits by households at commercial banks in Zimbabwe reflects the overall level of financial inclusion and access to basic banking services. This metric is used by economists and policymakers to gauge the degree of financial intermediation in the country.
Methodology
The data is collected directly from commercial banks in Zimbabwe and aggregated by the central bank.
Historical Context
This trend is relevant for understanding the development of Zimbabwe's financial sector and the ability of households to participate in the formal banking system.
Key Facts
- Zimbabwe has a population of over 14 million people.
- Only around 30% of Zimbabwean adults have a formal bank account.
- The average deposit balance at commercial banks is under $500 per household.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding deposits held by households at commercial banks in Zimbabwe. It provides insight into the level of financial inclusion and access to basic banking services.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the development of Zimbabwe's financial sector and the ability of households to participate in the formal banking system. It is used by economists and policymakers to gauge financial intermediation in the country.
Q: How is this data collected or calculated?
A: The data is collected directly from commercial banks in Zimbabwe and aggregated by the central bank.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers seeking to promote financial inclusion and access to banking services, which are key drivers of economic growth and development.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, and there may be limitations in terms of coverage or reporting by some commercial banks.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits by Households at Commercial Banks for Zimbabwe (ZWEFCLODCHXDC), retrieved from FRED.