Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Dominican Republic
DOMFCLODCGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30.89
Year-over-Year Change
53.69%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding deposits with commercial banks in the Dominican Republic as a percentage of the country's gross domestic product (GDP). It provides insights into the use of financial services and the depth of the banking sector in the Dominican Republic.
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 outstanding deposits with commercial banks metric represents the total value of deposits held by individuals and businesses in the commercial banking system of the Dominican Republic. This indicator is used by economists and policymakers to assess the level of financial intermediation and the overall development of the financial sector in the country.
Methodology
The data is collected and reported by the Central Bank of the Dominican Republic.
Historical Context
This trend is relevant for understanding the growth and stability of the Dominican Republic's financial system and its ability to support economic development.
Key Facts
- Outstanding deposits with commercial banks in the Dominican Republic were 47.4% of GDP in 2020.
- The Dominican Republic's banking sector has experienced steady growth in recent decades.
- Deposit-taking is a key function of the commercial banking system and supports economic activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding deposits with commercial banks in the Dominican Republic as a percentage of the country's gross domestic product (GDP). It provides insights into the use of financial services and the depth of the banking sector.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the growth and stability of the Dominican Republic's financial system and its ability to support economic development. It is used by economists and policymakers to assess the level of financial intermediation in the country.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of the Dominican Republic.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and financial institutions to monitor the development of the Dominican Republic's banking sector and its role in supporting economic growth and financial inclusion.
Q: Are there update delays or limitations?
A: The data is published regularly by the Central Bank of the Dominican Republic, but there may be some delays in reporting due to the time required for data collection and compilation.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Dominican Republic (DOMFCLODCGGDPPT), retrieved from FRED.