Use of Financial Services: Key Indicators, Outstanding Deposits with Credit Unions and Financial Cooperatives for Congo
CODFCLODUGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.24
Year-over-Year Change
-37.26%
Date Range
1/1/2010 - 1/1/2021
Summary
This economic trend measures the outstanding deposits with credit unions and financial cooperatives in Congo as a percentage of GDP. It provides insight into the level of financial inclusion and reliance on these institutions within the Congolese 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: Key Indicators, Outstanding Deposits with Credit Unions and Financial Cooperatives for Congo series tracks the value of deposits held with credit unions and financial cooperatives in the Democratic Republic of the Congo. This metric is used to assess the role of these community-based financial institutions in providing banking services and mobilizing domestic savings.
Methodology
The data is collected and reported by the International Monetary Fund (IMF).
Historical Context
This trend is relevant for policymakers and analysts seeking to understand financial access and the development of the Congolese banking sector.
Key Facts
- Congo's outstanding deposits with credit unions and financial cooperatives were 0.5% of GDP in 2020.
- This metric has declined from a high of 1.3% of GDP in 2012.
- Financial inclusion remains low in the Democratic Republic of the Congo.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value of deposits held with credit unions and financial cooperatives in the Democratic Republic of the Congo as a percentage of GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the role of community-based financial institutions in promoting financial inclusion and mobilizing domestic savings in the Congolese economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the International Monetary Fund (IMF).
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers and analysts seeking to understand financial access and the development of the Congolese banking sector.
Q: Are there update delays or limitations?
A: The data may have update delays and limitations inherent to data collection in the Democratic Republic of the Congo.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Credit Unions and Financial Cooperatives for Congo (CODFCLODUGGDPPT), retrieved from FRED.