Use of Financial Services: Key Indicators, Deposit Accounts with Credit Unions and Financial Cooperatives Per 1000 Adults for Lao People's Democratic Republic
LAOFCAODUANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.15
Year-over-Year Change
5.07%
Date Range
1/1/2019 - 1/1/2023
Summary
This economic trend measures the number of deposit accounts per 1,000 adults held with credit unions and financial cooperatives in Lao People's Democratic Republic. It provides insight into the use of formal 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 'Use of Financial Services: Key Indicators, Deposit Accounts with Credit Unions and Financial Cooperatives Per 1000 Adults for Lao People's Democratic Republic' tracks the penetration of basic banking services among the adult population. This indicator is used to assess financial inclusion and access to the formal financial system.
Methodology
The data is collected and reported by the World Bank through its Global Financial Inclusion (Global Findex) Database.
Historical Context
This trend is relevant for policymakers and analysts studying financial development and economic growth in Lao PDR.
Key Facts
- Lao PDR has a relatively low rate of formal financial account ownership.
- Increasing access to basic banking services is a policy priority for economic growth.
- Credit unions and cooperatives play a key role in providing financial services in rural areas.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of deposit accounts per 1,000 adults held with credit unions and financial cooperatives in Lao People's Democratic Republic.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the level of financial inclusion and access to formal banking services in Lao PDR, which is important for understanding economic development and growth prospects.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank through its Global Financial Inclusion (Global Findex) Database.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers and analysts studying financial development and access to banking services, which are key priorities for driving economic growth in Lao PDR.
Q: Are there update delays or limitations?
A: The Global Findex Database is updated every 3 years, so there may be lags in the most recent data available for this indicator.
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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 Lao People's Democratic Republic (LAOFCAODUANUM), retrieved from FRED.