Use of Financial Services: Key Indicators, Depositors with Commercial Banks Per 1000 Adults for Benin
BENFCDODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
280.21
Year-over-Year Change
160.13%
Date Range
1/1/2004 - 1/1/2022
Summary
This indicator measures the number of depositors with commercial banks per 1,000 adults in Benin. It provides insight into financial inclusion and the use of formal banking services by the adult population.
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, Depositors with Commercial Banks Per 1000 Adults for Benin' metric tracks the rate of adult residents in Benin who hold accounts with commercial banks. This data point is a key indicator of financial inclusion and the accessibility of formal banking services.
Methodology
The data is collected and reported by the World Bank, based on surveys and national banking statistics.
Historical Context
This indicator is widely used by economists, policymakers, and development organizations to assess progress on financial inclusion objectives.
Key Facts
- Benin's depositors per 1,000 adults ratio was 250.93 in 2017.
- The indicator has steadily increased over the past decade in Benin.
- Financial inclusion is a key development priority for the Beninese government.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the number of adult residents in Benin who hold accounts with commercial banks per 1,000 population.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the level of financial inclusion and access to formal banking services within the Beninese adult population, which is a key development indicator.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank based on surveys and national banking statistics.
Q: How is this trend used in economic policy?
A: Policymakers and development organizations use this indicator to assess progress on financial inclusion objectives and inform policies to increase access to banking services.
Q: Are there update delays or limitations?
A: The data is published annually with a potential 1-2 year lag, and may not capture informal or non-bank financial services usage.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Depositors with Commercial Banks Per 1000 Adults for Benin (BENFCDODCANUM), retrieved from FRED.