Use of Financial Services: Number of Deposit Accounts at Deposit Taking Microfinance Institutions (MFIs) for Djibouti
DJIFCAODMFNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
59,985.00
Year-over-Year Change
11849.20%
Date Range
1/1/2008 - 1/1/2023
Summary
This economic trend measures the number of deposit accounts held at deposit-taking microfinance institutions (MFIs) in Djibouti. It provides insight into the breadth of financial inclusion and access to formal banking services 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 number of deposit accounts at MFIs is a key indicator of financial sector development and the penetration of formal banking services, especially among underserved populations. It reflects the extent to which individuals and businesses are able to access savings, credit, and other financial products.
Methodology
The data is collected through surveys of deposit-taking MFIs operating in Djibouti.
Historical Context
This trend is used by policymakers, development organizations, and financial sector analysts to assess financial inclusion and access to formal financial services.
Key Facts
- Djibouti has a population of around 1 million people.
- Access to formal financial services is relatively low in Djibouti.
- Microfinance institutions play a key role in increasing financial inclusion.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of deposit accounts held at deposit-taking microfinance institutions (MFIs) in Djibouti.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the level of financial inclusion and access to formal banking services in Djibouti, which is important for understanding economic development and financial sector growth.
Q: How is this data collected or calculated?
A: The data is collected through surveys of deposit-taking MFIs operating in Djibouti.
Q: How is this trend used in economic policy?
A: Policymakers, development organizations, and financial sector analysts use this trend to assess financial inclusion and access to formal financial services in Djibouti.
Q: Are there update delays or limitations?
A: The data may be subject to delays in reporting and collection, and may not capture all informal financial services.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Deposit Accounts at Deposit Taking Microfinance Institutions (MFIs) for Djibouti (DJIFCAODMFNUM), retrieved from FRED.