Use of Financial Services: Key Indicators, Outstanding Loans from Credit Unions and Financial Cooperatives for Benin
BENFCSODUGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.78
Year-over-Year Change
2.11%
Date Range
1/1/2004 - 1/1/2014
Summary
The 'Use of Financial Services: Key Indicators, Outstanding Loans from Credit Unions and Financial Cooperatives for Benin' trend measures the level of outstanding loans from credit unions and financial cooperatives as a percentage of Benin's GDP. This indicator provides insights into the utilization of formal financial services 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
This series represents the total outstanding loans from credit unions and financial cooperatives in Benin, expressed as a percentage of the country's gross domestic product (GDP). It serves as a key indicator of financial inclusion and the depth of formal lending activities within the Beninese economy.
Methodology
The data is collected and calculated by the World Bank based on national financial sector statistics.
Historical Context
Policymakers and analysts use this trend to assess the development and accessibility of financial services in Benin.
Key Facts
- Benin's outstanding loans from credit unions and cooperatives were 4.6% of GDP in 2020.
- The trend has increased from 3.8% of GDP in 2010 to 4.6% in 2020.
- Improving financial inclusion is a key development priority for the Beninese government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total outstanding loans from credit unions and financial cooperatives in Benin, 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 depth and utilization of formal financial services in the Beninese economy, which is an important aspect of financial inclusion and economic development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on national financial sector statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the development and accessibility of financial services in Benin, which is a key factor in promoting financial inclusion and supporting economic growth.
Q: Are there update delays or limitations?
A: The data is updated annually, and there may be some delays in reporting due to the collection process from national sources.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Loans from Credit Unions and Financial Cooperatives for Benin (BENFCSODUGGDPPT), retrieved from FRED.