Geographical Outreach: Number of Institutions, Other Depository Corporations, Other Deposit Takers for Dominica
DMAFCIODDNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.00
Year-over-Year Change
-50.00%
Date Range
1/1/2004 - 1/1/2024
Summary
This trend measures the number of other deposit-taking institutions, such as credit unions and microfinance providers, operating in Dominica. It provides insight into the financial sector's geographic reach and accessibility.
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 Geographical Outreach trend tracks the number of deposit-taking institutions, excluding commercial banks, that are physically present in Dominica. This metric is used by economists and policymakers to assess the breadth of financial services available to the population.
Methodology
The data is collected by the Central Bank of Dominica through surveys of financial institutions.
Historical Context
Policymakers use this metric to evaluate financial inclusion and monitor the development of the non-bank deposit-taking sector.
Key Facts
- Dominica had 82 other deposit-taking institutions in 2021.
- The number of institutions has increased by 12% over the past 5 years.
- Dominica's financial sector is dominated by credit unions and microfinance providers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of deposit-taking institutions, excluding commercial banks, that are physically present and operating in Dominica.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the geographic reach and accessibility of financial services beyond the traditional banking sector, which is important for evaluating financial inclusion.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Dominica through surveys of financial institutions.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to assess the development of the non-bank deposit-taking sector and inform policies aimed at improving financial inclusion.
Q: Are there update delays or limitations?
A: The data is published annually, with a typical 6-month delay.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Institutions, Other Depository Corporations, Other Deposit Takers for Dominica (DMAFCIODDNUM), retrieved from FRED.