Use of Financial Services: Key Indicators, Outstanding Loans from All Microfinance Institutions (MFIs) for Comoros
COMFCSODMFGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.38
Year-over-Year Change
46.26%
Date Range
1/1/2010 - 1/1/2014
Summary
This economic indicator tracks the outstanding loans from all microfinance institutions (MFIs) in Comoros as a percentage of the country's GDP. It provides insight into the usage and penetration of financial services in the Comorian economy.
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, Outstanding Loans from All Microfinance Institutions (MFIs) for Comoros is a measure of financial inclusion and access to credit in the country. It represents the total value of loans extended by MFIs relative to the overall size of the Comorian economy.
Methodology
The data is collected and reported by the Central Bank of Comoros.
Historical Context
This indicator is relevant for policymakers and economists analyzing financial sector development and access to credit in Comoros.
Key Facts
- Comoros has a large informal economy, making microfinance a crucial source of credit.
- The outstanding loans from MFIs were equivalent to 6.3% of Comoros' GDP in 2020.
- Access to financial services remains limited, with only 19% of adults having a bank account.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the total value of outstanding loans from all microfinance institutions (MFIs) in Comoros as a percentage of the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into the level of financial inclusion and access to credit in the Comorian economy, which is crucial for assessing financial sector development and economic growth.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Comoros.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to analyze financial sector development and design policies to improve access to credit and financial services in Comoros.
Q: Are there update delays or limitations?
A: The data is published annually, with a potential delay of several months. The indicator may not capture all informal microfinance activities in the country.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Loans from All Microfinance Institutions (MFIs) for Comoros (COMFCSODMFGGDPPT), retrieved from FRED.