Nigeria: Financial institutions development, depth
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Nigeria |
Financial institutions development, depth |
---|---|
Latest value | 0.074 |
Year | 2021 |
Measure | index points |
Data availability | 1980 - 2021 |
Average | 0.048 |
Min - Max | 0.031 - 0.075 |
Source | International Monetary Fund |
The latest value from 2021 is 0.074 index points, a decline from 0.075 index points in 2020. In comparison, the world average is 0.291 index points, based on data from 175 countries. Historically, the average for Nigeria from 1980 to 2021 is 0.048 index points. The minimum value, 0.031 index points, was reached in 1989 while the maximum of 0.075 index points was recorded in 2020.
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Definition: Measures the development of financial institutions in terms of depth. Constructed as a principal component of the following variables: Private-sector credit to GDP; Pension fund assets to GDP; Mutual fund assets to GDP; and Insurance premiums, life and non-life, to GDP. See Svirydzenka, Katsiaryna (IMF, 2016) for more detail.
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Related indicators | Latest | Reference | Measure |
---|---|---|---|
Financial development | 0.221 | 2021 | index points |
Financial institutions development | 0.236 | 2021 | index points |
Financial institutions development, depth | 0.074 | 2021 | index points |
Financial institutions development, access | 0.121 | 2021 | index points |
Financial institutions development, efficiency | 0.561 | 2021 | index points |
Financial markets development | 0.197 | 2021 | index points |
Financial markets development, depth | 0.069 | 2021 | index points |
Financial markets development, access | 0.483 | 2021 | index points |
Financial markets development, efficiency | 0.054 | 2021 | index points |