Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for St. Kitts and Nevis
SKNFCLODCGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
113.07
Year-over-Year Change
28.63%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding deposits with commercial banks in St. Kitts and Nevis as a percentage of GDP. It provides insight into the use of financial services and overall economic activity 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 Use of Financial Services: Key Indicators series tracks various metrics related to financial sector activity and development. The outstanding deposits with commercial banks indicator specifically looks at the value of deposits held by the public, offering a gauge of financial intermediation and household/business engagement with the formal banking system.
Methodology
The data is collected by the Central Bank of St. Kitts and Nevis and reported to the International Monetary Fund.
Historical Context
This metric is used by policymakers and analysts to assess the depth and stability of the financial sector in St. Kitts and Nevis.
Key Facts
- Outstanding deposits are over 80% of GDP in St. Kitts and Nevis.
- Deposits have grown steadily in recent years, indicating financial deepening.
- The ratio of deposits to GDP is higher than many other Caribbean nations.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value of outstanding deposits held by the public with commercial banks in St. Kitts and Nevis, expressed as a percentage of the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the depth and stability of the financial sector, as well as overall economic activity in St. Kitts and Nevis. It is useful for policymakers and analysts assessing financial intermediation and development.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of St. Kitts and Nevis and reported to the International Monetary Fund.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge the health and depth of the financial sector, which can inform decisions around monetary policy, financial regulation, and economic development strategies.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly basis, so there may be a delay of several months before the latest figures are available.
Related Trends
Number of Identified Exporters to Saint Kitts and Nevis from North Carolina
NCKNAA475SCEN
U.S. Imports of Goods by Customs Basis from Saint Kitts and Nevis
IMP2483
General Government Net Lending/Borrowing for St. Vincent and the Grenadines
SVGGGXCNLGDP
Bank Credit to Bank Deposits for Saint Kitts and Nevis
DDSI04KNA156NWDB
Number of Identified Exporters to Saint Kitts and Nevis from Puerto Rico
PRKNAA475SCEN
Number of Identified Exporters to Saint Kitts and Nevis from Rhode Island
RIKNAA475SCEN
Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for St. Kitts and Nevis (SKNFCLODCGGDPPT), retrieved from FRED.