People 15 Years and Over Saving at a Financial Institution in the Past Year for Albania
DDAI06ALA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.66
Year-over-Year Change
12.81%
Date Range
1/1/2011 - 1/1/2021
Summary
This trend measures the percentage of people aged 15 and older in Albania who reported saving at a financial institution in the past year. It provides insights into the financial inclusion and savings behaviors of the Albanian population.
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 Saving at a Financial Institution in the Past Year for Albania' metric is part of the Global Findex database, which surveys individuals on their use of financial services. This data point is a key indicator of financial access and can inform policies aimed at promoting greater financial inclusion.
Methodology
The data is collected through nationally representative surveys conducted by the World Bank.
Historical Context
Policymakers and financial institutions use this metric to assess progress towards increasing savings and access to formal financial services.
Key Facts
- In 2017, 23.7% of Albanians aged 15 and older reported saving at a financial institution.
- Albania's savings rate at financial institutions is lower than the global average of 43.9%.
- Improving financial inclusion is a key development goal for the Albanian government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of people aged 15 and older in Albania who reported saving at a financial institution in the past year.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial inclusion and savings behavior in Albania, which is useful for policymakers and financial institutions working to promote greater access to formal financial services.
Q: How is this data collected or calculated?
A: The data is collected through nationally representative surveys conducted by the World Bank.
Q: How is this trend used in economic policy?
A: Policymakers and financial institutions use this metric to assess progress towards increasing savings and access to formal financial services in Albania.
Q: Are there update delays or limitations?
A: The Global Findex survey that provides this data is conducted every three years, so there may be a delay in the most recent data being available.
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Citation
U.S. Federal Reserve, People 15 Years and Over Saving at a Financial Institution in the Past Year for Albania (DDAI06ALA156NWDB), retrieved from FRED.