Use of Financial Services Borrowers: Persons Borrowing from Commercial Banks for Ethiopia
ETHFCRODCPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
109,461.00
Year-over-Year Change
114.71%
Date Range
1/1/2006 - 1/1/2012
Summary
This economic trend measures the use of financial services by borrowers in Ethiopia, specifically the number of persons borrowing from commercial banks. It provides insight into the level of financial inclusion and access to credit in the Ethiopian economy.
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 'Use of Financial Services Borrowers: Persons Borrowing from Commercial Banks for Ethiopia' trend tracks the total number of individuals who have taken out loans from commercial banks in Ethiopia. This metric is an important indicator of financial development and the ability of the population to access formal credit channels.
Methodology
The data is collected by the National Bank of Ethiopia through surveys and reporting from commercial banks operating in the country.
Historical Context
This trend is useful for policymakers and economists analyzing financial inclusion and economic growth in Ethiopia.
Key Facts
- Ethiopia has a population of over 110 million people.
- Only 35% of Ethiopians have access to formal financial services.
- Commercial banks are the primary source of credit in the Ethiopian economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of individuals who have taken out loans from commercial banks in Ethiopia, providing insight into financial inclusion and access to credit.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of financial development and the ability of the Ethiopian population to access formal credit channels, which is crucial for economic growth and poverty reduction.
Q: How is this data collected or calculated?
A: The data is collected by the National Bank of Ethiopia through surveys and reporting from commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and economists to analyze financial inclusion and develop strategies to improve access to credit and formal financial services in Ethiopia.
Q: Are there update delays or limitations?
A: The data may be subject to periodic updates and can be influenced by factors such as changes in banking regulations or reporting requirements.
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Citation
U.S. Federal Reserve, Use of Financial Services Borrowers: Persons Borrowing from Commercial Banks for Ethiopia (ETHFCRODCPENUM), retrieved from FRED.