People 15 Years and Over with Account at a Formal Financial Institution for Congo
DDAI05CGA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18.12
Year-over-Year Change
80.36%
Date Range
1/1/2011 - 1/1/2021
Summary
This trend measures the percentage of the Congolese population aged 15 and older who have an account at a formal financial institution. It 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
The 'People 15 Years and Over with Account at a Formal Financial Institution for Congo' statistic represents the share of the adult population in the Democratic Republic of the Congo with an account at a bank, credit union, microfinance institution, post office, or other formal financial service provider. This indicator is used to assess financial development and access to the formal banking system.
Methodology
The data is collected through household surveys conducted by the World Bank.
Historical Context
This metric is relevant for policymakers, financial institutions, and economists analyzing financial inclusion and economic growth in the Congo.
Key Facts
- The share of Congolese adults with a formal financial account was 26.7% in 2017.
- Financial inclusion has increased in the Congo over the past decade.
- Expanding access to banking services is a policy priority for economic growth.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of the Congolese population aged 15 and older 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 metric provides insight into financial inclusion and access to banking services in the Democratic Republic of the Congo, which is an important indicator of economic development and growth potential.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the World Bank.
Q: How is this trend used in economic policy?
A: Policymakers, financial institutions, and economists use this metric to analyze financial inclusion and develop strategies to expand access to banking and other formal financial services in the Congo.
Q: Are there update delays or limitations?
A: The data is published by the World Bank with some delay, and may not capture the most recent changes in financial inclusion in the Congo.
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Citation
U.S. Federal Reserve, People 15 Years and Over with Account at a Formal Financial Institution for Congo (DDAI05CGA156NWDB), retrieved from FRED.