People 15 Years and Over Saving at a Financial Institution in the Past Year for Saudi Arabia
DDAI06SAA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35.52
Year-over-Year Change
106.01%
Date Range
1/1/2011 - 1/1/2021
Summary
This economic trend measures the percentage of people aged 15 and older in Saudi Arabia who reported saving at a financial institution in the past year. It provides insights into the savings behavior and financial inclusion of the Saudi 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 Saudi Arabia' metric is an important indicator of financial access and economic well-being. It helps policymakers and analysts understand the savings patterns and overall financial health of the Saudi Arabian population.
Methodology
This data is collected through household surveys conducted by the World Bank as part of the Global Findex database.
Historical Context
The trend is useful for monitoring financial inclusion efforts and informing policies aimed at promoting savings and economic stability in Saudi Arabia.
Key Facts
- In 2017, 57.3% of adults in Saudi Arabia reported saving at a financial institution in the past year.
- Saudi Arabia's savings rate at financial institutions is higher than the global average of 43.9%.
- Promoting financial inclusion is a key priority for the Saudi government's economic diversification plans.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of people aged 15 and older in Saudi Arabia who reported saving at a financial institution in the past year.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the financial inclusion and savings behavior of the Saudi population, which is important for policymakers and analysts to understand economic well-being and monitor financial access efforts.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the World Bank as part of the Global Findex database.
Q: How is this trend used in economic policy?
A: This trend is used to monitor financial inclusion efforts and inform policies aimed at promoting savings and economic stability in Saudi Arabia.
Q: Are there update delays or limitations?
A: The data is updated every 3 years as part of the Global Findex survey, so there may be a delay in the most recent 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 Saudi Arabia' (DDAI06SAA156NWDB), retrieved from FRED.