Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Congo
COGFCAODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
657,117.30
Year-over-Year Change
20887.46%
Date Range
1/1/2011 - 1/1/2022
Summary
This economic trend measures the use of financial services deposit accounts at commercial banks in the Democratic Republic of the Congo. It provides insights into the level of financial inclusion and access to formal banking 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 Deposit Accounts: Accounts at Commercial Banks for Congo metric tracks the number of deposit accounts held at commercial banks in the Democratic Republic of the Congo. This data point is used by economists and policymakers to assess the level of financial inclusion and access to formal banking services in the country.
Methodology
The data is collected and reported by the World Bank's Global Financial Inclusion Database.
Historical Context
This trend is relevant for understanding financial development and economic growth policies in the Democratic Republic of the Congo.
Key Facts
- The number of deposit accounts at commercial banks in the Democratic Republic of the Congo was 785,686 in 2017.
- Financial inclusion remains a challenge, with only 26.7% of adults having an account at a financial institution in 2017.
- The Democratic Republic of the Congo is working to expand access to formal banking services as part of its economic development strategy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of deposit accounts held at commercial banks in the Democratic Republic of the Congo, providing insights into the level of financial inclusion and access to formal banking services in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding financial development and economic growth policies in the Democratic Republic of the Congo, as it indicates the level of access to formal banking services for the population.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank's Global Financial Inclusion Database.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the level of financial inclusion and inform policies aimed at expanding access to formal banking services in the Democratic Republic of the Congo.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, and there may be some delays in reporting or limitations due to data collection challenges in the country.
Related Trends
Number of Identified Exporters to Congo from Rhode Island
RICOGA475SCEN
Bank Credit to Bank Deposits for Congo
DDSI04CGA156NWDB
Number of Identified Exporters to Congo from Utah
UTCOGA475SCEN
Net Reserves by Months of Imported Goods and Services for Congo, Republic of
COGBRASSMIMH
Value of Exports to Congo from North Carolina
NCCOGA052SCEN
Number of Identified Exporters to Congo from Maryland
MDCOGA475SCEN
Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Congo (COGFCAODCNUM), retrieved from FRED.