Use of Financial Services Deposit Accounts: Accounts at Credit Unions and Financial Cooperatives for Lao People's Democratic Republic
LAOFCAODUNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38,040.00
Year-over-Year Change
13.58%
Date Range
1/1/2019 - 1/1/2023
Summary
This economic trend measures the use of financial services deposit accounts at credit unions and financial cooperatives in the Lao People's Democratic Republic. It provides insight into financial inclusion and access to 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 Deposit Accounts: Accounts at Credit Unions and Financial Cooperatives for Lao People's Democratic Republic metric tracks the total number of deposit accounts held at credit unions and financial cooperatives. This data point is used by economists and policymakers to evaluate financial sector development and financial inclusion in the Lao PDR.
Methodology
The data is collected through surveys of credit unions and financial cooperatives operating in the Lao PDR.
Historical Context
This trend is relevant for understanding access to formal banking services and financial inclusion policies in the Lao PDR.
Key Facts
- Lao PDR has a population of over 7 million people.
- Only about 30% of adults in Lao PDR have a bank account.
- Credit unions and cooperatives are an important source of financial services in rural areas.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held at credit unions and financial cooperatives in the Lao People's Democratic Republic.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into financial inclusion and access to formal banking services in Lao PDR, which is important for evaluating economic development and financial sector policies.
Q: How is this data collected or calculated?
A: The data is collected through surveys of credit unions and financial cooperatives operating in the Lao PDR.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to understand financial sector development and design policies to improve financial inclusion in the Lao PDR.
Q: Are there update delays or limitations?
A: The data may have limited geographic or institutional coverage and be subject to delays in reporting.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Credit Unions and Financial Cooperatives for Lao People's Democratic Republic (LAOFCAODUNUM), retrieved from FRED.