Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Sri Lanka
LKAFCLODCGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
52.56
Year-over-Year Change
53.87%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures outstanding deposits with commercial banks in Sri Lanka as a percentage of gross domestic product (GDP). It provides insights into the level of financial intermediation and the overall depth of the banking system in the country.
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 for Sri Lanka indicator reflects the total value of deposits held by individuals and businesses with the country's commercial banking sector. This metric offers a window into the degree of financial inclusion and the public's reliance on formal banking services within the Sri Lankan economy.
Methodology
The data is collected and reported by the Central Bank of Sri Lanka.
Historical Context
This trend is widely used by economists, policymakers, and financial analysts to assess the development and stability of Sri Lanka's banking and financial system.
Key Facts
- Sri Lanka's outstanding commercial bank deposits were 57.1% of GDP in 2021.
- Deposit levels have increased from 42.1% of GDP in 2010.
- The indicator reached a high of 59.3% in 2017 before declining slightly.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of deposits held by individuals and businesses with commercial banks in Sri Lanka, expressed 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 level of financial intermediation and the overall depth of the banking system in Sri Lanka, which is important for assessing the country's economic development and financial stability.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Sri Lanka.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and financial analysts use this trend to evaluate the development and soundness of Sri Lanka's banking and financial sector, which is crucial for informing economic policies and regulations.
Q: Are there update delays or limitations?
A: The data is published regularly by the Central Bank of Sri Lanka, with minimal update delays. However, there may be some limitations in terms of data coverage or comparability across different countries.
Related Trends
Geographical Outreach: Number of Institutions, Other Financial Intermediaries, Non-deposit Taking Microfinance Institutions (MFIs) for Sri Lanka
LKAFCIOFMFNNUM
Number of Identified Exporters to Sri Lanka from Puerto Rico
PRLKAA475SCEN
People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Sri Lanka
DDAI07LKA156NWDB
Bank's Net Interest Margin for Sri Lanka
DDEI01LKA156NWDB
Number of Identified Exporters to Sri Lanka from Rhode Island
RILKAA475SCEN
Amount Outstanding of International Debt Securities for Issuers in General Government Sector, All Maturities, Residence of Issuer in Sri Lanka
IDSGAMRIAOLK
Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Sri Lanka (LKAFCLODCGGDPPT), retrieved from FRED.