Private Credit by Deposit Money Banks and Other Financial Institutions to GDP for Nigeria
DDDI12NGA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12.76
Year-over-Year Change
-34.89%
Date Range
1/1/1960 - 1/1/2021
Summary
This economic indicator measures the ratio of private credit provided by deposit money banks and other financial institutions to Nigeria's gross domestic product (GDP). It serves as a key metric for assessing the depth and development of Nigeria's 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 Private Credit to GDP ratio tracks the flow of credit from the financial system to the private sector as a percentage of the country's economic output. It provides insights into the level of financial intermediation and the ability of businesses and households to access credit, which are important factors for economic growth and development.
Methodology
The data is compiled by the World Bank using information reported by national central banks and statistical agencies.
Historical Context
This indicator is widely used by economists, policymakers, and investors to evaluate the financial health and credit conditions within Nigeria's economy.
Key Facts
- Nigeria's private credit to GDP ratio was 13.7% in 2020.
- The ratio has fluctuated between 10-15% over the past decade.
- Access to credit remains a key challenge for many Nigerian businesses and households.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the ratio of private credit provided by deposit money banks and other financial institutions to Nigeria's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: The private credit to GDP ratio provides insights into the depth and development of Nigeria's financial sector, which is an important factor for economic growth and development.
Q: How is this data collected or calculated?
A: The data is compiled by the World Bank using information reported by Nigeria's central bank and statistical agencies.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and investors use this indicator to evaluate the financial health and credit conditions within Nigeria's economy, which informs policy decisions and investment strategies.
Q: Are there update delays or limitations?
A: The data is subject to the reporting timelines of Nigeria's statistical agencies, which can result in occasional delays in updates.
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Citation
U.S. Federal Reserve, Private Credit by Deposit Money Banks and Other Financial Institutions to GDP for Nigeria (DDDI12NGA156NWDB), retrieved from FRED.