Use of Financial Services: Key Indicators, Loan Accounts with Commercial Banks Per 1,000 Adults for Jamaica
JAMFCNODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
270.56
Year-over-Year Change
54.24%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic indicator tracks the number of loan accounts with commercial banks per 1,000 adults in Jamaica, providing insight into the use of financial services and access to credit 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, Loan Accounts with Commercial Banks Per 1,000 Adults for Jamaica' series measures the level of financial inclusion and banking penetration in the Jamaican economy. This metric is used by economists and policymakers to assess the availability and adoption of formal financial services.
Methodology
The data is collected and calculated by the World Bank based on surveys and statistical reporting from the Central Bank of Jamaica.
Historical Context
This indicator informs policy decisions related to financial sector development and financial inclusion initiatives in Jamaica.
Key Facts
- Jamaica had 288 loan accounts per 1,000 adults in 2017.
- The indicator has increased from 247 in 2011 to 288 in 2017.
- Financial inclusion remains a key policy priority for the Jamaican government.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the number of loan accounts held with commercial banks per 1,000 adults in Jamaica, providing insight into the level of financial inclusion and access to formal credit in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for evaluating financial sector development and the effectiveness of policies aimed at increasing banking penetration and access to credit for Jamaican businesses and households.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on surveys and statistical reporting from the Central Bank of Jamaica.
Q: How is this trend used in economic policy?
A: Policymakers in Jamaica use this indicator to inform decisions related to financial inclusion initiatives and strategies to improve access to formal financial services.
Q: Are there update delays or limitations?
A: The data is published annually with a delay of approximately one year.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Loan Accounts with Commercial Banks Per 1,000 Adults for Jamaica (JAMFCNODCANUM), retrieved from FRED.