People 15 Years and Over Saving at a Financial Institution in the Past Year for Liberia
DDAI06LRA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12.68
Year-over-Year Change
-8.96%
Date Range
1/1/2011 - 1/1/2021
Summary
This economic trend measures the percentage of people aged 15 and older in Liberia who have saved at a financial institution within the past year. It provides insight into financial inclusion and access to formal 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 Saving at a Financial Institution in the Past Year' metric tracks the level of formal savings behavior among the adult population in Liberia. It is an important indicator of financial development and economic well-being within the country.
Methodology
The data is collected through household surveys conducted by the World Bank.
Historical Context
This trend is useful for policymakers and development economists analyzing financial inclusion and the effectiveness of initiatives to expand access to banking services.
Key Facts
- Liberia's formal savings rate was 21.3% in 2017.
- Savings at financial institutions are more common among men than women in Liberia.
- Access to banking services remains a challenge, especially in rural areas of Liberia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of people aged 15 and older in Liberia who have saved money at a formal financial institution within the past year.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into financial inclusion and access to banking services in Liberia, which are key factors for economic development and household financial security.
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 development economists use this trend to analyze financial inclusion and the effectiveness of initiatives to expand access to banking services in Liberia.
Q: Are there update delays or limitations?
A: The data may have a lag of several years, as it relies on household survey collection.
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Citation
U.S. Federal Reserve, People 15 Years and Over Saving at a Financial Institution in the Past Year for Liberia (DDAI06LRA156NWDB), retrieved from FRED.