People 15 Years and Over with Account at a Formal Financial Institution for Bulgaria
DDAI05BGA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
83.97
Year-over-Year Change
58.95%
Date Range
1/1/2011 - 1/1/2021
Summary
This economic trend measures the percentage of people aged 15 and older in Bulgaria who have an account at a formal financial institution. It provides insights 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
The 'People 15 Years and Over with Account at a Formal Financial Institution for Bulgaria' metric tracks the share of the adult population in Bulgaria that utilizes formal banking and financial services. This indicator is used by economists and policymakers to assess financial sector development and gauge financial inclusion levels within the country.
Methodology
The data is collected through household surveys conducted by the World Bank as part of the Global Findex database.
Historical Context
This trend is relevant for understanding financial market conditions and informing policies aimed at promoting greater access to banking and financial services in Bulgaria.
Key Facts
- The latest data shows 72.4% of adults in Bulgaria have a formal financial account.
- Financial inclusion in Bulgaria has increased significantly over the past decade.
- Access to banking services remains lower in rural areas compared to urban centers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of people aged 15 and older in Bulgaria who have an account at a formal financial institution, such as a bank, credit union, or microfinance provider.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into financial inclusion and access to banking services within Bulgaria, which is important for understanding financial sector development and informing policies aimed at promoting greater financial access.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the World Bank as part of the Global Findex database.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess financial sector development and inform policies aimed at promoting greater access to banking and financial services in Bulgaria.
Q: Are there update delays or limitations?
A: The data is updated every 3 years as part of the Global Findex survey, so there may be a delay in the most recent information being available.
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Citation
U.S. Federal Reserve, People 15 Years and Over with Account at a Formal Financial Institution for Bulgaria (DDAI05BGA156NWDB), retrieved from FRED.