Use of Financial Services: Key Indicators, Outstanding Deposits with Credit Unions and Financial Cooperatives for Barbados
BRBFCLODUGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18.71
Year-over-Year Change
64.31%
Date Range
1/1/2008 - 1/1/2023
Summary
This economic trend measures the outstanding deposits with credit unions and financial cooperatives in Barbados as a percentage of the country's gross domestic product (GDP). It provides insights into the usage and importance of financial services in 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 outstanding deposits with credit unions and financial cooperatives for Barbados represent the total value of deposits held by these institutions, which play a crucial role in providing financial services to individuals and businesses. This metric is used by economists and policymakers to gauge the depth and inclusion of the Barbadian financial system.
Methodology
The data is collected and calculated by the Central Bank of Barbados.
Historical Context
This trend is relevant for understanding financial market conditions and the accessibility of credit and savings in Barbados.
Key Facts
- Barbados has a well-developed credit union network.
- Deposits with credit unions and cooperatives account for a significant portion of Barbados' GDP.
- Financial inclusion is a key policy focus in Barbados.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding deposits held with credit unions and financial cooperatives in Barbados 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 usage and importance of financial services in the Barbadian economy, which is relevant for understanding financial market conditions and the accessibility of credit and savings.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Central Bank of Barbados.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to gauge the depth and inclusion of the Barbadian financial system, which is a key policy focus in the country.
Q: Are there update delays or limitations?
A: The data is published regularly by the Central Bank of Barbados, but there may be occasional delays or limitations in data availability.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Credit Unions and Financial Cooperatives for Barbados (BRBFCLODUGGDPPT), retrieved from FRED.