Use of Financial Services: Key Indicators, Depositors with Commercial Banks Per 1000 Adults for Madagascar
MDGFCDODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
316.87
Year-over-Year Change
207.86%
Date Range
1/1/2004 - 1/1/2022
Summary
This economic trend measures the number of depositors with commercial banks per 1,000 adults in Madagascar. It provides insight into financial inclusion and the use 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, Depositors with Commercial Banks Per 1000 Adults' metric tracks the level of engagement with the formal banking system among the adult population in Madagascar. This indicator is widely used by economists and policymakers to assess financial inclusion and access to financial services.
Methodology
This data is collected and reported by the World Bank based on surveys and administrative records from commercial banks in Madagascar.
Historical Context
This trend is relevant for understanding the development of Madagascar's financial sector and informing policies aimed at promoting greater financial inclusion.
Key Facts
- Madagascar had 403 depositors per 1,000 adults in 2020.
- The trend has increased from 334 depositors per 1,000 adults in 2011.
- Financial inclusion remains a challenge, with many Malagasy adults still lacking access to formal banking services.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of depositors with commercial banks per 1,000 adults in Madagascar. It provides an indicator of financial inclusion and the use of formal banking services in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the development of Madagascar's financial sector and informing policies aimed at promoting greater financial inclusion and access to banking services.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank based on surveys and administrative records from commercial banks in Madagascar.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the level of financial inclusion and access to formal banking services in Madagascar, which can inform policies and initiatives to promote financial development and inclusion.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, but there may be some delays in reporting. Additionally, the accuracy of the data is dependent on the quality of the underlying surveys and administrative records from commercial banks.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Depositors with Commercial Banks Per 1000 Adults for Madagascar (MDGFCDODCANUM), retrieved from FRED.