Number of Bank Accounts for Congo
DDAI01CGA642NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
153.79
Year-over-Year Change
645.75%
Date Range
1/1/2004 - 1/1/2017
Summary
The 'Number of Bank Accounts for Congo' measures the total number of deposit accounts in commercial banks and other financial institutions in the Democratic Republic of the Congo. This key economic indicator provides insights into financial inclusion and access to banking services.
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
This series represents the total number of deposit accounts, including both individual and business accounts, held with commercial banks and other deposit-taking institutions in the Democratic Republic of the Congo. It is an important metric for understanding the level of financial development and accessibility of banking services within 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
Policymakers and analysts use this indicator to gauge financial inclusion and identify opportunities to expand access to banking and other financial services.
Key Facts
- Congo had 462 bank accounts per 1,000 adults in 2017.
- Financial inclusion in Congo lags behind many other African nations.
- Expanding banking services is a key development priority for the Congolese government.
FAQs
Q: What does this economic trend measure?
A: The 'Number of Bank Accounts for Congo' measures the total number of deposit accounts held with commercial banks and other financial institutions in the Democratic Republic of the Congo.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the level of financial inclusion and access to banking services within the Congolese economy, which is an important consideration for policymakers and economic analysts.
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: Policymakers and analysts use this indicator to gauge financial inclusion and identify opportunities to expand access to banking and other financial services in the Democratic Republic of the Congo.
Q: Are there update delays or limitations?
A: The data is published by the World Bank on a periodic basis, so there may be some delays in availability compared to more frequently updated economic indicators.
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Citation
U.S. Federal Reserve, Number of Bank Accounts for Congo (DDAI01CGA642NWDB), retrieved from FRED.