People 15 Years and Over Saving at a Financial Institution in the Past Year for Panama
DDAI06PAA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15.10
Year-over-Year Change
21.20%
Date Range
1/1/2011 - 1/1/2021
Summary
This economic trend measures the percentage of people aged 15 and older in Panama who reported saving at a financial institution in the past year. It provides insights into the savings behavior and financial inclusion of the Panamanian 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 Panama' metric is an important indicator of financial access and economic well-being. It reflects the extent to which Panamanians are able to save and build assets through formal financial channels.
Methodology
The data is collected through nationally representative household surveys.
Historical Context
This trend is used by policymakers, financial institutions, and economists to assess financial inclusion and plan programs to promote savings and access to banking services.
Key Facts
- The latest value for this trend is 24.75% (2017).
- Panama's savings rate lags behind the Latin American and Caribbean regional average of 39.4%.
- Increasing financial inclusion is a key goal of Panama's economic development strategy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of people aged 15 and older in Panama 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 the Panamanian population, which is important for assessing economic well-being and informing policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through nationally representative household surveys.
Q: How is this trend used in economic policy?
A: Policymakers, financial institutions, and economists use this trend to assess financial inclusion and plan programs to promote savings and access to banking services in Panama.
Q: Are there update delays or limitations?
A: The data is updated regularly, but there may be some delays in reporting due to the survey-based methodology.
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Citation
U.S. Federal Reserve, People 15 Years and Over Saving at a Financial Institution in the Past Year for Panama (DDAI06PAA156NWDB), retrieved from FRED.