Deposit Money Bank Assets to GDP for Nigeria
DDDI02NGA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16.40
Year-over-Year Change
-33.49%
Date Range
1/1/1960 - 1/1/2021
Summary
This economic trend measures the ratio of deposit money bank assets to GDP in Nigeria. It provides insight into the size and importance of the banking sector relative to the overall 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 deposit money bank assets to GDP ratio is a key indicator of financial development and the role of the banking system in a country's economy. It can be used to assess the depth and breadth of the financial sector and its ability to mobilize savings and allocate capital.
Methodology
The data is collected and calculated by the World Bank based on national accounts and banking sector statistics.
Historical Context
This trend is used by economists and policymakers to monitor financial sector development and its relationship to broader economic growth.
Key Facts
- Nigeria's deposit money bank assets to GDP ratio was 20.4% in 2020.
- The ratio has increased from 12.6% in 2000, indicating financial sector growth.
- Nigeria's ratio is lower than the global average, suggesting potential for further development.
FAQs
Q: What does this economic trend measure?
A: This trend measures the ratio of deposit money bank assets to GDP in Nigeria. It provides an indicator of the size and importance of the banking sector relative to the overall economy.
Q: Why is this trend relevant for users or analysts?
A: The deposit money bank assets to GDP ratio is a key metric for assessing financial sector development and the role of the banking system in driving economic growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on national accounts and banking sector statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to monitor financial sector development and its relationship to broader economic growth, informing policy decisions.
Q: Are there update delays or limitations?
A: The World Bank data may have periodic update delays, and the ratio can be influenced by changes in both bank assets and GDP.
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Citation
U.S. Federal Reserve, Deposit Money Bank Assets to GDP for Nigeria (DDDI02NGA156NWDB), retrieved from FRED.