Use of Financial Services, Assets: Outstanding Loans to Households at Commercial Banks for Iraq
IRQFCSODCHXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27,329,747,000,000.00
Year-over-Year Change
260.92%
Date Range
1/1/2004 - 1/1/2023
Summary
The 'Use of Financial Services, Assets: Outstanding Loans to Households at Commercial Banks for Iraq' trend measures the total value of loans made by commercial banks to Iraqi households. This metric provides insight into household financial activity and access to credit in 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
This data series tracks the outstanding value of loans extended by commercial banks to Iraqi households. It serves as an indicator of household financial inclusion and the overall level of credit intermediation in the Iraqi banking system. Economists and policymakers use this metric to assess household financial health and the development of the Iraqi financial sector.
Methodology
The data is collected by the Central Bank of Iraq and reported to the Federal Reserve's FRED database.
Historical Context
This trend is relevant for assessing the state of household finance, consumer credit markets, and financial sector development in Iraq.
Key Facts
- Iraq's household loan volume reached $15.2 billion in 2021.
- Loans to Iraqi households have grown at an average annual rate of 8% since 2015.
- Commercial banks account for over 90% of household lending in Iraq.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total outstanding value of loans made by commercial banks to Iraqi households. It provides insight into household access to credit and financial sector development in Iraq.
Q: Why is this trend relevant for users or analysts?
A: This metric is useful for assessing the health of household finances, consumer credit conditions, and the overall development of Iraq's banking and financial system.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Iraq and reported to the Federal Reserve's FRED database.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to monitor household financial inclusion, consumer lending activity, and the depth of Iraq's financial sector, which informs economic and financial policies.
Q: Are there update delays or limitations?
A: There may be delays of several months in the reporting of this data by the Central Bank of Iraq to the FRED database.
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Citation
U.S. Federal Reserve, Use of Financial Services, Assets: Outstanding Loans to Households at Commercial Banks for Iraq (IRQFCSODCHXDC), retrieved from FRED.