Number of Bank Accounts for Madagascar
DDAI01MGA642NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
106.78
Year-over-Year Change
189.75%
Date Range
1/1/2004 - 1/1/2020
Summary
The 'Number of Bank Accounts for Madagascar' trend measures the total number of bank accounts held by individuals and businesses in Madagascar. This metric is a key indicator of financial inclusion and access to 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
This data series, provided by the World Bank, tracks the total number of deposit accounts with commercial banks and other financial institutions in Madagascar. It serves as an important gauge of the level of financial development and the degree to which the population can access formal banking channels.
Methodology
The data is collected through surveys and reports from domestic financial regulators and institutions.
Historical Context
Policymakers and economists use this trend to evaluate progress on financial inclusion initiatives and to inform decisions on monetary and banking sector policies.
Key Facts
- Madagascar had over 1.2 million bank accounts as of the latest data.
- The number of bank accounts has grown by over 50% in the past decade.
- Only about 15% of the adult population in Madagascar has a bank account.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held with commercial banks and other financial institutions in Madagascar.
Q: Why is this trend relevant for users or analysts?
A: The number of bank accounts is a key indicator of financial inclusion and access to banking services, which are important for economic development and growth.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reports from domestic financial regulators and institutions in Madagascar.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to evaluate progress on financial inclusion initiatives and to inform decisions on monetary and banking sector policies.
Q: Are there update delays or limitations?
A: The data may be subject to reporting lags, and the availability and reliability of the information can vary across different countries and time periods.
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Citation
U.S. Federal Reserve, Number of Bank Accounts for Madagascar (DDAI01MGA642NWDB), retrieved from FRED.