Use of Financial Services: Key Indicators, Outstanding Loans from Commercial Banks for Congo
COGFCSODCGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13.81
Year-over-Year Change
421.96%
Date Range
1/1/2011 - 1/1/2022
Summary
This economic trend measures the outstanding loans from commercial banks in the Democratic Republic of the Congo as a percentage of its gross domestic product. It provides insight into the level of financial intermediation and access to credit in 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 Loans from Commercial Banks for Congo' series tracks the total value of loans outstanding from commercial banks in the Democratic Republic of the Congo, expressed as a percentage of the country's GDP. This metric reflects the depth and breadth of the Congolese financial system and its ability to channel funds to the private sector.
Methodology
The data is collected and calculated by the World Bank using information from national central banks and statistical agencies.
Historical Context
This indicator is used by policymakers, economists, and financial analysts to assess the financial development and stability of the Congolese economy.
Key Facts
- The outstanding loans from commercial banks in Congo were 7.8% of GDP in 2020.
- Congo's financial sector is relatively underdeveloped compared to other African economies.
- Increasing access to credit is a key policy goal for promoting private sector growth in Congo.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of loans outstanding from commercial banks in the Democratic Republic of the Congo, expressed as a percentage of the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the depth and breadth of the Congolese financial system and its ability to channel funds to the private sector, which is relevant for assessing financial development and stability.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using information from national central banks and statistical agencies.
Q: How is this trend used in economic policy?
A: This indicator is used by policymakers, economists, and financial analysts to assess the financial development and stability of the Congolese economy and inform policies aimed at increasing access to credit and promoting private sector growth.
Q: Are there update delays or limitations?
A: The data may be subject to delays in reporting or publication by the source institutions, and it may not capture all forms of financial intermediation in the Congolese economy.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Loans from Commercial Banks for Congo (COGFCSODCGGDPPT), retrieved from FRED.