Number of Bank Accounts for Senegal
DDAI01SNA642NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
225.50
Year-over-Year Change
108.90%
Date Range
1/1/2004 - 1/1/2020
Summary
The 'Number of Bank Accounts for Senegal' metric tracks the total number of bank accounts held by individuals in Senegal. This provides insight into 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 indicator represents the total number of bank accounts, including both personal and business accounts, held by Senegalese citizens and enterprises. It is an important measure of financial development and can inform policymakers about progress towards increasing access to formal banking.
Methodology
The data is collected by the World Bank through surveys and reporting from national authorities.
Historical Context
Policymakers use this metric to evaluate financial sector development and the effectiveness of initiatives to expand banking access.
Key Facts
- Senegal had over 2.7 million bank accounts as of the latest data.
- The number of bank accounts in Senegal has grown by over 50% in the past decade.
- Expanding banking access is a key development priority for the Senegalese government.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total number of bank accounts held by individuals and enterprises in Senegal, providing insight into financial inclusion and access to banking services.
Q: Why is this trend relevant for users or analysts?
A: This indicator is important for evaluating financial sector development and the effectiveness of initiatives to expand banking access in Senegal.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank through surveys and reporting from national authorities in Senegal.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to inform decisions and track progress towards increasing financial inclusion and access to banking services in Senegal.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, so there may be a 1-2 year delay in the most recent figures.
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Citation
U.S. Federal Reserve, Number of Bank Accounts for Senegal (DDAI01SNA642NWDB), retrieved from FRED.