Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Albania
ALBFCLODCGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
62.91
Year-over-Year Change
-7.98%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend tracks outstanding deposits with commercial banks in Albania as a percentage of GDP, providing insights into the use of 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 outstanding deposits with commercial banks for Albania indicator represents the total value of deposits held by individuals and businesses with licensed commercial banks, expressed as a percentage of the country's gross domestic product. This metric offers insights into the depth and utilization of the Albanian financial system.
Methodology
The data is collected by the Bank of Albania and reported to the International Monetary Fund.
Historical Context
This indicator is used by policymakers and analysts to assess the development and inclusion of the financial sector in Albania.
Key Facts
- Albania's outstanding deposits with commercial banks were 57.4% of GDP in 2020.
- The indicator has steadily increased from 33.7% of GDP in 2000.
- Deposit-taking is an important function of the Albanian financial system.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value of outstanding deposits with commercial banks in Albania as a percentage of the country's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the depth and utilization of the Albanian financial system, which is relevant for policymakers and analysts assessing the development and inclusion of the country's financial sector.
Q: How is this data collected or calculated?
A: The data is collected by the Bank of Albania and reported to the International Monetary Fund.
Q: How is this trend used in economic policy?
A: This indicator is used by policymakers and analysts to assess the development and inclusion of the financial sector in Albania.
Q: Are there update delays or limitations?
A: The data is updated regularly by the Bank of Albania and the International Monetary Fund, with minimal delays.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Albania (ALBFCLODCGGDPPT), retrieved from FRED.