Use of Financial Services: Key Indicators, Outstanding Deposits of Households with Commercial Banks for Iraq
IRQFCLODCHGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.78
Year-over-Year Change
58.85%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding deposits of households with commercial banks in Iraq as a percentage of the country's gross domestic product (GDP). It provides insights into the use of financial services and the level of household savings within the Iraqi 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 Deposits of Households with Commercial Banks for Iraq trend represents the total value of deposits held by Iraqi households in commercial banks, expressed as a percentage of the country's GDP. This metric is used by economists and policymakers to assess the financial health and inclusion of the Iraqi population.
Methodology
The data is collected and calculated by the Central Bank of Iraq and reported to the International Monetary Fund (IMF).
Historical Context
This trend is relevant for understanding the development of Iraq's financial sector and the savings behavior of its households, which can inform economic and financial policies.
Key Facts
- Iraq's outstanding household deposits with commercial banks were 18.7% of GDP in 2020.
- The trend has increased from 14.5% of GDP in 2010, indicating growing financial inclusion.
- Iraq's household deposit-to-GDP ratio is lower than the global average of around 50%.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding deposits of households with commercial banks in Iraq as a percentage of the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the use of financial services and the level of household savings within the Iraqi economy, which is relevant for assessing the country's financial development and inclusion.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Central Bank of Iraq and reported to the International Monetary Fund (IMF).
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to understand the financial health and inclusion of the Iraqi population, which can inform economic and financial policies aimed at promoting financial development and stability.
Q: Are there update delays or limitations?
A: The data is published with a delay, and there may be limitations in its coverage or reliability, as is common with economic indicators in developing countries.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits of Households with Commercial Banks for Iraq (IRQFCLODCHGGDPPT), retrieved from FRED.