Use of Financial Services: Number of Depositors at Deposit Taking Microfinance Institutions (MFIs) for Ecuador
ECUFCDODMFPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,329,568.00
Year-over-Year Change
-68.80%
Date Range
1/1/2005 - 1/1/2024
Summary
This economic trend measures the number of depositors at deposit-taking microfinance institutions (MFIs) in Ecuador. It provides insights into the use of financial services and access to formal banking 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 depositors at deposit-taking MFIs is an important indicator of financial inclusion and the growth of the microfinance sector. It reflects the extent to which individuals and small businesses in Ecuador are able to access and utilize formal financial services.
Methodology
The data is collected directly from deposit-taking MFIs operating in Ecuador.
Historical Context
This trend is closely monitored by policymakers, regulators, and development organizations to assess financial sector development and progress towards financial inclusion goals.
Key Facts
- Ecuador has a population of over 17 million people.
- The microfinance sector in Ecuador has experienced significant growth in recent years.
- Financial inclusion is a key development priority for the Ecuadorian government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of depositors at deposit-taking microfinance institutions (MFIs) in Ecuador. It provides insight into the level of financial inclusion and access to formal banking services in the country.
Q: Why is this trend relevant for users or analysts?
A: The number of depositors at MFIs is an important indicator of financial sector development and progress towards financial inclusion goals. It is closely monitored by policymakers, regulators, and development organizations.
Q: How is this data collected or calculated?
A: The data is collected directly from deposit-taking MFIs operating in Ecuador.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, regulators, and development organizations to assess the state of financial inclusion and the growth of the microfinance sector in Ecuador. It informs policy decisions and targeted interventions to expand access to financial services.
Q: Are there update delays or limitations?
A: The data is subject to the reporting schedules and procedures of the deposit-taking MFIs in Ecuador, which may result in occasional delays or limitations in data availability.
Related Trends
Consumer Prices for Ecuador
ECUPCPIEPCH
Constant GDP per capita for Ecuador
NYGDPPCAPKDECU
Use of Financial Services Deposit Accounts: Accounts at Other Depository Corporations for Ecuador
ECUFCAODNUM
Use of Financial Services, Liabilities: Outstanding Deposits at Other Deposit Takers for Ecuador
ECUFCLODDXDC
Value of Exports to Ecuador from Nebraska
NEECUA052SCEN
People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Ecuador
DDAI07ECA156NWDB
Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors at Deposit Taking Microfinance Institutions (MFIs) for Ecuador (ECUFCDODMFPENUM), retrieved from FRED.