People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Sri Lanka
DDAI07LKA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21.28
Year-over-Year Change
19.94%
Date Range
1/1/2011 - 1/1/2021
Summary
This economic trend measures the percentage of people aged 15 and older in Sri Lanka who borrowed from a financial institution in the past year. It provides insight 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' indicator tracks the level of formal financial participation among the adult population in Sri Lanka. This metric is used by economists and policymakers to assess financial access 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 understanding financial sector development and economic policies aimed at increasing access to credit and banking services.
Key Facts
- Sri Lanka's borrowing rate from financial institutions was 31.4% in 2017.
- Financial inclusion has increased in Sri Lanka over the past decade.
- Access to credit is a key component of economic development.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of people aged 15 and older in Sri Lanka who borrowed from a financial institution in the past year, providing insight into financial inclusion and access to credit.
Q: Why is this trend relevant for users or analysts?
A: This metric is used by economists and policymakers to assess financial access and inclusion within Sri Lanka, which is a key component of economic development.
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 relevant for understanding financial sector development and economic policies aimed at increasing access to credit and banking services.
Q: Are there update delays or limitations?
A: The data is published with a lag, and the survey methodology may have limitations in capturing all informal financial transactions.
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Outstanding International Public Debt Securities to GDP for Sri Lanka
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Citation
U.S. Federal Reserve, People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Sri Lanka (DDAI07LKA156NWDB), retrieved from FRED.