People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Benin
DDAI07BJA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.20
Year-over-Year Change
95.68%
Date Range
1/1/2011 - 1/1/2021
Summary
This trend measures the percentage of people aged 15 and older in Benin who borrowed from a financial institution in the past year. It provides insights into financial inclusion and access to credit in the country.
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 Borrowing from a Financial Institution in the Past Year' metric tracks the proportion of the adult population in Benin that has utilized formal credit channels over a 12-month period. This data is used to assess financial development and financial inclusion levels within the country.
Methodology
The data is collected through household surveys conducted by the World Bank.
Historical Context
This indicator is important for policymakers and financial institutions seeking to expand access to credit and promote financial inclusion in Benin.
Key Facts
- Benin's borrowing rate from financial institutions was 23.11% in 2017.
- The borrowing rate has increased from 18.54% in 2011 to 23.11% in 2017.
- Improving financial inclusion is a key development goal for the Beninese government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of people aged 15 and older in Benin who borrowed from a financial institution in the past year.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into financial inclusion and access to credit in Benin, which is important for policymakers and financial institutions seeking to expand financial services.
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 indicator is used by policymakers and institutions to assess financial development and inform policies aimed at increasing financial inclusion in Benin.
Q: Are there update delays or limitations?
A: The data is available annually, but there may be delays in publication due to the time required for survey data collection and processing.
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Citation
U.S. Federal Reserve, People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Benin (DDAI07BJA156NWDB), retrieved from FRED.