People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Philippines
DDAI07PHA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17.45
Year-over-Year Change
65.94%
Date Range
1/1/2011 - 1/1/2021
Summary
This trend measures the percentage of people aged 15 and over in the Philippines who have 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 for Philippines' metric tracks the adoption of formal financial services among the adult population. It is a key indicator of financial development and can inform policymakers' efforts to promote inclusive growth.
Methodology
The data is collected through household surveys conducted by the World Bank.
Historical Context
This indicator is widely used by economists, development institutions, and policymakers to assess financial sector progress and financial inclusion strategies.
Key Facts
- The Philippines has seen a gradual increase in financial inclusion in recent years.
- Access to credit from formal institutions remains a challenge for many Filipinos.
- Improving financial literacy and infrastructure is a key policy priority.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of people aged 15 and over in the Philippines who have borrowed from a financial institution in the past year. It is an indicator of financial inclusion and access to credit.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the development of the financial sector and the ability of Filipinos to access formal credit, which is crucial for inclusive economic growth and poverty reduction.
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 widely used by economists, development institutions, and policymakers to assess financial sector progress and inform financial inclusion strategies in the Philippines.
Q: Are there update delays or limitations?
A: The data is published with a lag, and the survey-based nature of the data may limit its frequency and timeliness.
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Citation
U.S. Federal Reserve, People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Philippines (DDAI07PHA156NWDB), retrieved from FRED.