Use of Financial Services: Key Indicators, Household Borrowers from Commercial Banks Per 1000 Adults for Congo
COGFCRODCHANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23.41
Year-over-Year Change
5098.73%
Date Range
1/1/2011 - 1/1/2021
Summary
This indicator tracks the number of household borrowers from commercial banks per 1,000 adults in Congo. It provides insights into financial inclusion and access to credit 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, Household Borrowers from Commercial Banks Per 1000 Adults for Congo' metric gauges the level of household participation in the formal banking system. It is a valuable indicator for policymakers and analysts examining financial development and financial access in the Congolese economy.
Methodology
The data is collected and reported by the World Bank as part of its Global Financial Inclusion (Global Findex) Database.
Historical Context
This trend is relevant for understanding financial inclusion goals and policies in Congo.
Key Facts
- Congo had 42.75 household borrowers per 1,000 adults in 2021.
- Financial inclusion remains a challenge, with only 27% of adults in Congo having a bank account in 2021.
- The government has initiatives to expand access to formal financial services.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of household borrowers from commercial banks per 1,000 adults in Congo. It provides insights into the level of financial inclusion and access to credit in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding financial development and access to formal banking services in the Congolese economy. It informs policymakers and analysts about financial inclusion goals and progress.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank as part of its Global Financial Inclusion (Global Findex) Database.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and institutions to monitor and evaluate financial inclusion initiatives and access to credit in the Congolese economy.
Q: Are there update delays or limitations?
A: The data is reported by the World Bank with a lag, and may not capture the most recent developments in Congo's financial sector.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Household Borrowers from Commercial Banks Per 1000 Adults for Congo (COGFCRODCHANUM), retrieved from FRED.