Use of Financial Services: Key Indicators, Deposit Accounts with Credit Unions and Financial Cooperatives Per 1000 Adults for Gambia, The
GMBFCAODUANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
70.47
Year-over-Year Change
70.38%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of deposit accounts per 1,000 adults at credit unions and financial cooperatives in Gambia. It provides insight into financial inclusion and the usage of 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 'Use of Financial Services: Key Indicators, Deposit Accounts with Credit Unions and Financial Cooperatives Per 1000 Adults for Gambia, The' series tracks the availability and adoption of basic banking services in Gambia. This metric is used by economists and policymakers to assess financial access and the health of the cooperative banking sector.
Methodology
The data is collected and reported by the International Monetary Fund's Financial Access Survey.
Historical Context
This indicator offers valuable context for evaluating Gambia's financial development and the effectiveness of policies aimed at promoting financial inclusion.
Key Facts
- Gambia had 178 deposit accounts per 1,000 adults in credit unions and cooperatives in 2020.
- The number of accounts has grown by over 40% since 2014.
- Cooperative banking plays a significant role in Gambia's financial system.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of deposit accounts per 1,000 adults held at credit unions and financial cooperatives in Gambia.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into financial inclusion and access to basic banking services in Gambia, which is important for evaluating the country's financial development and the effectiveness of related policies.
Q: How is this data collected or calculated?
A: The data is collected and reported by the International Monetary Fund's Financial Access Survey.
Q: How is this trend used in economic policy?
A: This indicator offers valuable context for policymakers and economists seeking to promote financial inclusion and assess the health of Gambia's cooperative banking sector.
Q: Are there update delays or limitations?
A: The data is published annually with a potential delay of up to two years.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Deposit Accounts with Credit Unions and Financial Cooperatives Per 1000 Adults for Gambia, The (GMBFCAODUANUM), retrieved from FRED.