People 15 Years and Over with Account at a Formal Financial Institution for Lao People's Democratic Republic
DDAI05LAA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.32
Year-over-Year Change
39.39%
Date Range
1/1/2011 - 1/1/2021
Summary
This economic trend measures the percentage of the population aged 15 and older who have an account at a formal financial institution in Lao People's Democratic Republic. It provides insight into financial inclusion and access to basic 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
The People 15 Years and Over with Account at a Formal Financial Institution metric tracks the share of the adult population in Lao PDR that utilizes formal banking services. This indicator is widely used by economists and policymakers to assess financial development and inclusive growth.
Methodology
The data is collected through household surveys conducted by the World Bank.
Historical Context
Trends in financial inclusion are closely monitored by central banks and development agencies to inform economic and social policies.
Key Facts
- Lao PDR's financial inclusion rate was 29.9% in 2017.
- Financial inclusion has increased steadily in Lao PDR over the past decade.
- Expanding access to formal banking services is a key priority for Lao PDR's economic policies.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of the population aged 15 and older in Lao PDR who have an account at a formal financial institution, such as a bank or credit union.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into financial inclusion and access to basic banking services, which are important indicators of economic development and financial stability.
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: Trends in financial inclusion are closely monitored by central banks and development agencies to inform economic and social policies aimed at promoting financial access and inclusive growth.
Q: Are there update delays or limitations?
A: The data is updated irregularly, with the most recent observation from 2017. There may be limitations in coverage or survey methodologies across different countries.
Related Trends
Number of Identified Exporters to Lao People's Democratic Republic from Virginia
VALAOA475SCEN
Number of Identified Exporters to Lao People's Democratic Republic from District of Columbia
DCLAOA475SCEN
Population ages 65 and above for the Lao People's Democratic Republic
SPPOP65UPTOZSLAO
Value of Exports to Lao People's Democratic Republic from Colorado
COLAOA052SCEN
Number of Identified Exporters to Lao People's Democratic Republic from Ohio
OHLAOA475SCEN
Value of Exports to Lao People's Democratic Republic from California
CALAOA052SCEN
Citation
U.S. Federal Reserve, People 15 Years and Over with Account at a Formal Financial Institution for Lao People's Democratic Republic (DDAI05LAA156NWDB), retrieved from FRED.