Micronesia: Financial institutions development, depth

The latest value from 2021 is 0.045 index points, an increase from 0.044 index points in 2020. In comparison, the world average is 0.291 index points, based on data from 175 countries. Historically, the average for Micronesia from 1995 to 2021 is 0.046 index points. The minimum value, 0.032 index points, was reached in 2003 while the maximum of 0.064 index points was recorded in 1999. See the global rankings for that indicator or use the country comparator to compare trends over time.

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.