Use of Financial Services: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for Congo
COGFCAODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
186.71
Year-over-Year Change
16076.90%
Date Range
1/1/2011 - 1/1/2022
Summary
This economic trend measures the number of deposit accounts with commercial banks per 1,000 adults in the Republic of the Congo. It provides insight into financial inclusion and the use of banking services by the 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 deposit accounts per 1,000 adults indicator offers a snapshot of financial access and usage in the Congolese economy. It is a valuable metric for policymakers and analysts assessing progress toward greater financial inclusion and the development of the banking sector.
Methodology
The data is collected through surveys and reported by the World Bank.
Historical Context
This indicator is used to monitor financial sector development and support policies aimed at broadening access to banking services.
Key Facts
- The Republic of the Congo had 178 deposit accounts per 1,000 adults in 2017.
- Financial inclusion has improved but remains limited, with significant rural-urban divides.
- Access to banking services is a key challenge for economic development in the country.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of deposit accounts with commercial banks per 1,000 adults in the Republic of the Congo, providing insights into financial inclusion and banking sector development.
Q: Why is this trend relevant for users or analysts?
A: This indicator is important for assessing progress toward greater financial inclusion and the development of the banking sector in the Congolese economy, which are crucial for economic growth and poverty reduction.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reported by the World Bank.
Q: How is this trend used in economic policy?
A: This indicator is used by policymakers and analysts to monitor financial sector development and support policies aimed at broadening access to banking services in the Republic of the Congo.
Q: Are there update delays or limitations?
A: The data may be subject to periodic updates and potential delays in reporting, as it relies on survey-based information.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for Congo (COGFCAODCANUM), retrieved from FRED.