Use of Financial Services: Key Indicators, Outstanding Deposits of Households with Commercial Banks for Comoros
COMFCLODCHGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.59
Year-over-Year Change
375.64%
Date Range
1/1/2010 - 1/1/2023
Summary
This economic trend measures the outstanding deposits of households with commercial banks in Comoros as a percentage of GDP. It provides insight into the level of financial inclusion and household savings in the Comorian 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 of households with commercial banks in Comoros is an important indicator of the use of formal financial services by the population. It reflects the extent to which households are participating in the banking system and accumulating savings.
Methodology
The data is collected and calculated by the Central Bank of Comoros.
Historical Context
This trend is relevant for policymakers and analysts seeking to understand financial sector development and household financial behavior in Comoros.
Key Facts
- Comoros has a low rate of financial inclusion compared to other African countries.
- Household deposits represent about 20% of GDP in Comoros.
- The banking sector in Comoros is small and dominated by a few commercial banks.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding deposits of households with commercial banks in Comoros as a percentage of the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the level of financial inclusion and household savings in the Comorian economy, which is important for understanding financial sector development and household financial behavior.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Central Bank of Comoros.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers and analysts seeking to understand and promote financial sector development and household financial inclusion in Comoros.
Q: Are there update delays or limitations?
A: The data may be subject to delays in reporting or have limited historical coverage, as is common with economic indicators in developing countries.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits of Households with Commercial Banks for Comoros (COMFCLODCHGGDPPT), retrieved from FRED.