Financial System Deposits to GDP for Solomon Islands
DDDI08SBA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.87
Year-over-Year Change
41.10%
Date Range
1/1/1978 - 1/1/2021
Summary
The Financial System Deposits to GDP for Solomon Islands measures the value of deposits held in the country's financial system as a percentage of its gross domestic product. This metric provides insight into the size and stability of the Solomon Islands' banking and financial sector.
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 Financial System Deposits to GDP indicator tracks the total value of deposits in banks, credit unions, and other financial institutions in Solomon Islands, expressed as a proportion of the country's GDP. This measure reflects the overall depth and development of the Solomon Islands' financial system and its ability to mobilize savings.
Methodology
The data is collected and calculated by the World Bank based on national accounts and financial sector data.
Historical Context
This indicator is used by economists and policymakers to assess the financial sector's contribution to economic growth and development in Solomon Islands.
Key Facts
- Solomon Islands' Financial System Deposits to GDP ratio was 51.75% in 2020.
- The ratio has fluctuated between 40-55% over the past decade.
- Higher ratios indicate a more developed financial system in the country.
FAQs
Q: What does this economic trend measure?
A: The Financial System Deposits to GDP for Solomon Islands measures the total value of deposits held in the country's banks, credit unions, and other financial institutions as a percentage of its gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the size, depth, and development of Solomon Islands' financial sector, which is an important driver of economic growth and stability.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on national accounts and financial sector statistics from Solomon Islands.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to assess the financial sector's contribution to economic development and inform policies aimed at strengthening the banking and financial system in Solomon Islands.
Q: Are there update delays or limitations?
A: The data is published annually with a delay of approximately one year. The indicator may not capture all informal financial activities in the country.
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Citation
U.S. Federal Reserve, Financial System Deposits to GDP for Solomon Islands (DDDI08SBA156NWDB), retrieved from FRED.