People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Jamaica
DDAI07JMA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12.04
Year-over-Year Change
51.97%
Date Range
1/1/2011 - 1/1/2021
Summary
This economic trend measures the percentage of people aged 15 and older in Jamaica who borrowed from a financial institution in the past year. It provides insights into financial inclusion and access to credit within the Jamaican 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 Borrowing from a Financial Institution in the Past Year' metric tracks the share of the adult population in Jamaica that has utilized formal financial services. This indicator is useful for analyzing financial development and inclusion within the country.
Methodology
The data is collected through household surveys conducted by the World Bank.
Historical Context
This trend is relevant for policymakers and analysts examining financial access and economic opportunity in Jamaica.
Key Facts
- Jamaica's borrowing rate from financial institutions was 31.9% in 2017.
- Borrowing from formal sources has increased in Jamaica over the past decade.
- Financial inclusion remains a challenge, with many adults still lacking access to credit.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of Jamaicans aged 15 and older who borrowed money from a formal 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 Jamaican population, which is important for understanding economic development and opportunity.
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 metric is relevant for policymakers and analysts examining financial access and economic opportunity in Jamaica.
Q: Are there update delays or limitations?
A: The data is published periodically by the World Bank, so there may be some delay in the most recent information.
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Citation
U.S. Federal Reserve, People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Jamaica (DDAI07JMA156NWDB), retrieved from FRED.