People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Hong Kong SAR, China
DDAI07HKA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
70.00
Year-over-Year Change
783.15%
Date Range
1/1/2011 - 1/1/2021
Summary
This economic trend measures the percentage of people aged 15 and above in Hong Kong SAR, China who have borrowed from a financial institution in the past year. It provides insights into household financial behavior and access to credit.
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 share of the adult population in Hong Kong that has utilized formal credit channels over the previous 12 months. This indicator is used by economists and policymakers to assess financial inclusion and the overall health of the consumer credit market.
Methodology
The data is collected through household surveys conducted by the World Bank.
Historical Context
This trend is relevant for evaluating financial access and credit usage patterns among Hong Kong's population.
Key Facts
- Hong Kong has one of the highest financial inclusion rates globally.
- Borrowing from formal institutions has increased in Hong Kong over the past decade.
- Access to credit is seen as a key driver of economic development and household resilience.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of people aged 15 and above in Hong Kong SAR, China who have 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 within the Hong Kong population, which is an important factor for assessing household financial health and consumer lending market dynamics.
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: Policymakers and economists use this trend to evaluate financial access and credit usage patterns among Hong Kong's population, which can inform decisions around financial inclusion initiatives and consumer lending regulations.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not capture the most recent changes in household borrowing behavior.
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Citation
U.S. Federal Reserve, People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Hong Kong SAR, China (DDAI07HKA156NWDB), retrieved from FRED.