People 15 Years and Over Borrowing from a Financial Institution in the Past Year for El Salvador
DDAI07SVA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10.55
Year-over-Year Change
170.88%
Date Range
1/1/2011 - 1/1/2021
Summary
This economic trend measures the percentage of people aged 15 and older in El Salvador who have 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' statistic represents the share of the adult population in El Salvador that has utilized formal banking or lending services over the previous 12 months. This metric is used to assess financial system development and financial access for individuals.
Methodology
The data is collected through household surveys conducted by the World Bank.
Historical Context
This trend is relevant for policymakers and analysts evaluating financial inclusion and the efficacy of initiatives to expand access to credit and banking services.
Key Facts
- In 2017, 26.4% of people aged 15 and older in El Salvador borrowed from a financial institution.
- Financial inclusion has increased in El Salvador over the past decade.
- Access to credit remains a challenge for many Salvadoran households.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of the adult population in El Salvador that has borrowed from a financial institution, such as a bank or microfinance provider, within the past year.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into financial inclusion and access to credit in El Salvador, which are important factors for economic development and household financial security.
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 analysts use this trend to evaluate financial inclusion initiatives and the effectiveness of efforts to expand access to formal banking and credit services.
Q: Are there update delays or limitations?
A: The data is published with a lag, and survey-based metrics may not fully capture all informal lending and borrowing activities.
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Citation
U.S. Federal Reserve, People 15 Years and Over Borrowing from a Financial Institution in the Past Year for El Salvador (DDAI07SVA156NWDB), retrieved from FRED.