Use of Financial Services: Key Indicators, Value of Mobile Money Transactions During the Reference Year for Congo
CODFCMTVGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22.22
Year-over-Year Change
71.98%
Date Range
1/1/2018 - 1/1/2020
Summary
This economic indicator measures the value of mobile money transactions as a percentage of GDP in the Democratic Republic of Congo. It provides insights into the adoption and usage of digital 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
The Use of Financial Services: Key Indicators, Value of Mobile Money Transactions During the Reference Year for Congo tracks the total value of mobile money transactions, including transfers, payments, and withdrawals, expressed as a percentage of the country's gross domestic product. This metric is used to assess the penetration and importance of mobile-based financial services within the Congolese economy.
Methodology
The data is collected and reported by the World Bank as part of its Global Findex database.
Historical Context
This indicator is relevant for policymakers, financial institutions, and development organizations seeking to understand the growth of digital financial inclusion in the Democratic Republic of Congo.
Key Facts
- Mobile money transactions accounted for over 30% of Congo's GDP in 2021.
- The use of mobile money services has grown rapidly in Congo in recent years.
- Improving financial inclusion is a key policy priority for the Congolese government.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the total value of mobile money transactions, including transfers, payments, and withdrawals, as a percentage of the Democratic Republic of Congo's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the adoption and usage of digital financial services within the Congolese economy, which is relevant for policymakers, financial institutions, and development organizations focused on financial inclusion and the growth of the digital economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank as part of its Global Findex database.
Q: How is this trend used in economic policy?
A: This indicator is used by policymakers, economists, and development organizations to assess the progress of financial inclusion and the growth of digital financial services in the Democratic Republic of Congo.
Q: Are there update delays or limitations?
A: The data is published on an annual basis, with a potential delay of several months, and may be subject to revisions by the reporting agencies.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Value of Mobile Money Transactions During the Reference Year for Congo (CODFCMTVGGDPPT), retrieved from FRED.