People 15 Years and Over Saving at a Financial Institution in the Past Year for Lao People's Democratic Republic
DDAI06LAA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17.05
Year-over-Year Change
-11.93%
Date Range
1/1/2011 - 1/1/2021
Summary
This economic trend measures the percentage of people aged 15 and older in Lao PDR who have saved at a financial institution in the past year. It provides insights into the financial inclusion and savings habits of the Lao 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' metric tracks the share of the adult population in Lao PDR that has utilized formal banking services to save money. This indicator is used by economists and policymakers to assess financial access and the overall level of financial inclusion in the country.
Methodology
The data is collected through household surveys conducted by the World Bank.
Historical Context
This trend is relevant for understanding the broader financial landscape and development goals in Lao PDR.
Key Facts
- Lao PDR has a relatively low rate of formal account ownership compared to other Southeast Asian countries.
- Women in Lao PDR are less likely to save at a financial institution than men.
- Access to banking services remains a challenge, especially in rural areas of Lao PDR.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of people aged 15 and older in Lao PDR who have saved money at a financial institution in the past year.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the level of financial inclusion and the savings habits of the Lao population, which is important for understanding the country's economic development and financial landscape.
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 and economists use this trend to assess financial access and inform policies aimed at improving financial inclusion in Lao PDR.
Q: Are there update delays or limitations?
A: The data is published with a delay, and the survey-based nature of the metric may limit its frequency and timeliness.
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Citation
U.S. Federal Reserve, People 15 Years and Over Saving at a Financial Institution in the Past Year for Lao People's Democratic Republic (DDAI06LAA156NWDB), retrieved from FRED.