Geographical Outreach: Number of Credit Unions and Financial Cooperatives for Dominica
DMAFCIODUNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.00
Year-over-Year Change
-30.00%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend tracks the number of credit unions and financial cooperatives operating in Dominica, providing insights into the geographical outreach and accessibility of financial 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 credit unions and financial cooperatives in Dominica serves as an indicator of the breadth and depth of the country's financial infrastructure. This data is used by economists and policymakers to assess financial inclusion and the availability of community-based financial services.
Methodology
The data is collected by government statistical agencies in Dominica.
Historical Context
This trend is relevant for understanding the development of Dominica's financial sector and its ability to serve local communities.
Key Facts
- Dominica had 34 credit unions and financial cooperatives as of the latest data.
- Credit unions are a major provider of financial services in rural Dominica.
- The number of credit unions has grown by 6% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of credit unions and financial cooperatives operating in Dominica, providing insights into the country's financial infrastructure and accessibility of community-based financial services.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding financial inclusion and the development of Dominica's financial sector, as credit unions and cooperatives play a crucial role in serving local communities.
Q: How is this data collected or calculated?
A: The data is collected by government statistical agencies in Dominica.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the accessibility and reach of financial services, particularly in rural areas, and to inform policies aimed at promoting financial inclusion.
Q: Are there update delays or limitations?
A: The data is published with a short delay, and the scope is limited to credit unions and financial cooperatives, not the full financial sector.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Credit Unions and Financial Cooperatives for Dominica (DMAFCIODUNUM), retrieved from FRED.