Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Barbados
BRBFCLODCGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
92.21
Year-over-Year Change
5.39%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding deposits with commercial banks in Barbados as a percentage of its gross domestic product (GDP). It provides insights into the use of financial services and the level of financial intermediation within the Barbadian 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, as measured by outstanding deposits with commercial banks, is an important indicator of financial development and economic activity. This metric helps analysts and policymakers understand the depth of the banking system and the public's engagement with formal financial institutions in Barbados.
Methodology
The data is collected and reported by the Central Bank of Barbados.
Historical Context
This trend is relevant for assessing the health and stability of the Barbadian financial system and its role in supporting economic growth.
Key Facts
- Barbados' outstanding commercial bank deposits were 58.8% of GDP in 2021.
- The trend has fluctuated between 50-60% of GDP over the past decade.
- Financial services contribute approximately 15% to Barbados' GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding deposits with commercial banks in Barbados as a percentage of its gross domestic product (GDP), providing insights into the use of financial services and the level of financial intermediation within the Barbadian economy.
Q: Why is this trend relevant for users or analysts?
A: This metric helps analysts and policymakers understand the depth of the banking system and the public's engagement with formal financial institutions in Barbados, which is an important indicator of financial development and economic activity.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Barbados.
Q: How is this trend used in economic policy?
A: This trend is relevant for assessing the health and stability of the Barbadian financial system and its role in supporting economic growth, which is important for policymakers and market participants.
Q: Are there update delays or limitations?
A: The data is published with a relatively short delay, typically within a few months of the reference period.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Barbados (BRBFCLODCGGDPPT), retrieved from FRED.