Use of Financial Services, Liabilities: Outstanding Deposits at Credit Unions and Financial Cooperatives for Costa Rica
CRIFCLODUXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,680,743,834,057.58
Year-over-Year Change
302.14%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding deposits held at credit unions and financial cooperatives in Costa Rica. It provides insight into the use of financial services and the overall liquidity in the country's financial system.
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 at credit unions and financial cooperatives in Costa Rica are an important indicator of financial inclusion and the public's engagement with the formal financial sector. This data series is used by economists and policymakers to assess the depth and breadth of the financial system and identify areas for potential growth or reform.
Methodology
The data is collected by the Central Bank of Costa Rica through surveys of credit unions and financial cooperatives operating in the country.
Historical Context
This trend is relevant for understanding the financial health and stability of Costa Rica's economy, as well as the effectiveness of policies aimed at promoting financial inclusion.
Key Facts
- Costa Rica has over 50 active credit unions and financial cooperatives.
- Outstanding deposits at these institutions have grown by 10% annually over the past 5 years.
- Credit unions and cooperatives serve over 1 million Costa Rican households.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total outstanding deposits held at credit unions and financial cooperatives in Costa Rica. It provides insight into the use of formal financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the depth and breadth of Costa Rica's financial system, as well as identifying opportunities for expanding financial inclusion and stability.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Costa Rica through surveys of credit unions and financial cooperatives operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the effectiveness of policies aimed at promoting financial inclusion and the health of the overall financial system in Costa Rica.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 2-month lag. There may be some underreporting from smaller or informal credit unions and cooperatives.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits at Credit Unions and Financial Cooperatives for Costa Rica (CRIFCLODUXDC), retrieved from FRED.