People 15 Years and Over Saving at a Financial Institution in the Past Year for Mali
DDAI06MLA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11.20
Year-over-Year Change
150.12%
Date Range
1/1/2011 - 1/1/2021
Summary
This economic trend measures the percentage of people aged 15 and over in Mali who reported saving at a financial institution in the past year. It provides insights into the country's 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 for Mali' trend is an important indicator of financial inclusion and access to banking services in the country. It tracks the share of the adult population that has utilized formal financial institutions for saving purposes, which is a key component of financial development.
Methodology
This data is collected through household surveys conducted by the World Bank as part of its Global Findex database.
Historical Context
Policymakers and economists use this metric to assess progress on financial inclusion and identify areas for improving access to formal banking services.
Key Facts
- The latest available data point shows 19.7% of Malians aged 15 and over saved at a financial institution in the past year.
- Mali's financial inclusion rate lags behind the regional average for Sub-Saharan Africa.
- Increasing access to formal banking services is a key development priority for the Malian government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of people aged 15 and over in Mali who reported saving at a financial institution in the past year. It provides insights into the country's financial inclusion and access to formal banking services.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding financial development and access to banking services in Mali. It helps policymakers and economists assess progress on financial inclusion and identify areas for improvement.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the World Bank as part of its Global Findex database.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to evaluate financial inclusion efforts and inform policies aimed at improving access to formal banking services in Mali.
Q: Are there update delays or limitations?
A: The data is published biennially by the World Bank, so there may be a 1-2 year lag in the most recent available information.
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Citation
U.S. Federal Reserve, People 15 Years and Over Saving at a Financial Institution in the Past Year for Mali (DDAI06MLA156NWDB), retrieved from FRED.