People 15 Years and Over Saving at a Financial Institution in the Past Year for Rwanda
DDAI06RWA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18.92
Year-over-Year Change
6.07%
Date Range
1/1/2011 - 1/1/2017
Summary
This economic trend measures the percentage of people aged 15 and older in Rwanda who reported saving money at a financial institution in the past year. It provides insight 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' indicator tracks the level of financial inclusion and utilization of formal banking services among the adult population in Rwanda. This metric is used by policymakers and economists to assess progress toward financial development goals and identify areas for improvement.
Methodology
The data is collected through household surveys conducted by the World Bank.
Historical Context
This trend is relevant for understanding Rwanda's financial sector development and informing policies aimed at promoting greater financial inclusion.
Key Facts
- Rwanda's financial inclusion rate was 36.3% in 2017.
- The government has set a target of achieving 90% financial inclusion by 2024.
- Mobile money has become a popular way for Rwandans to access financial services.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of people aged 15 and older in Rwanda who reported saving money at a financial institution in the past year.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the level of financial inclusion and access to formal banking services in Rwanda, which is important for understanding the country's financial sector development and informing policies aimed at promoting greater financial inclusion.
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: This trend is used by policymakers and economists to assess progress toward financial development goals and identify areas for improvement in Rwanda's financial sector.
Q: Are there update delays or limitations?
A: The data is published with a time lag, and the survey methodology may have some limitations in capturing the full extent of financial inclusion in Rwanda.
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Citation
U.S. Federal Reserve, People 15 Years and Over Saving at a Financial Institution in the Past Year for Rwanda (DDAI06RWA156NWDB), retrieved from FRED.