People 15 Years and Over with Account at a Formal Financial Institution for Mozambique
DDAI05MZA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38.63
Year-over-Year Change
17.06%
Date Range
1/1/2017 - 1/1/2021
Summary
This economic trend measures the percentage of people aged 15 and older in Mozambique who have an account at a formal financial institution. It provides insights into financial inclusion and access to banking services within 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 Mozambique' metric tracks the level of adult financial inclusion in Mozambique. It is a key indicator used by policymakers and development organizations to assess progress in expanding access to basic banking and financial services.
Methodology
The data is collected through household surveys conducted by the World Bank as part of the Global Findex database.
Historical Context
This metric is relevant for evaluating financial development policies and assessing financial sector stability in Mozambique.
Key Facts
- Mozambique's adult financial inclusion rate was 43.1% in 2017.
- Financial inclusion has increased from 23.7% in 2011 to 43.1% in 2017.
- Expanding financial access is a key development priority for Mozambique.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of people aged 15 and older in Mozambique who have an account at a formal financial institution, such as a bank, credit union, microfinance institution, or mobile money provider.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of financial inclusion and access to basic banking services within Mozambique. It is used by policymakers, development organizations, and economists to assess progress in expanding financial access and promoting economic development.
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 metric informs financial sector development policies and programs aimed at increasing access to banking and other financial services in Mozambique. It is a key indicator for evaluating the impact of financial inclusion initiatives.
Q: Are there update delays or limitations?
A: The data is published every 3 years as part of the World Bank's Global Findex survey, so there may be a 1-3 year delay in the most recent figures being available.
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Citation
U.S. Federal Reserve, People 15 Years and Over with Account at a Formal Financial Institution for Mozambique (DDAI05MZA156NWDB), retrieved from FRED.