Use of Financial Services: Key Indicators, Outstanding Loans from Commercial Banks to Households for Dominica
DMAFCSODCHGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25.01
Year-over-Year Change
-19.98%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding loans from commercial banks to households in Dominica as a percentage of the country's gross domestic product (GDP). It provides insights into the level of financial services usage and household borrowing patterns in the Dominican 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 'Use of Financial Services: Key Indicators, Outstanding Loans from Commercial Banks to Households for Dominica' series tracks the value of outstanding loans from commercial banks to households in Dominica. This metric is used by economists and policymakers to analyze the depth of financial intermediation and the reliance of households on bank credit within the domestic economy.
Methodology
The data is collected and calculated by the Central Bank of Dominica based on reports from commercial banks operating in the country.
Historical Context
This economic indicator is relevant for understanding the development of Dominica's financial sector and the extent to which households are accessing formal banking services.
Key Facts
- Dominica's outstanding loans from commercial banks to households were 20.4% of GDP in 2020.
- The trend has shown a gradual decline from a peak of 26.7% of GDP in 2012.
- Household borrowing levels are lower in Dominica compared to other Caribbean economies.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding loans from commercial banks to households in Dominica as a percentage of the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the depth of financial intermediation and the reliance of households on bank credit within the Dominican economy, which is important for understanding the development of the financial sector.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Central Bank of Dominica based on reports from commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: This economic indicator is relevant for policymakers in Dominica to assess the level of household access to formal banking services and to inform policies aimed at promoting financial inclusion and the development of the domestic financial sector.
Q: Are there update delays or limitations?
A: The data is published regularly by the Central Bank of Dominica, but there may be occasional delays in data reporting and publication.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Loans from Commercial Banks to Households for Dominica (DMAFCSODCHGGDPPT), retrieved from FRED.