Use of Financial Services: Number of Depositors which are Households at Commercial Banks for Madagascar
MDGFCDODCHPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,504,567.00
Year-over-Year Change
1315.51%
Date Range
1/1/2004 - 1/1/2022
Summary
This economic trend measures the number of household depositors at commercial banks in Madagascar. It provides insights into financial inclusion and household access to formal banking services.
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: Number of Depositors which are Households at Commercial Banks for Madagascar' metric tracks the total number of household depositors with commercial banks in the country. This data point is used to assess financial sector development and household integration into the formal banking system.
Methodology
The data is collected by the Central Bank of Madagascar and reported to the International Monetary Fund.
Historical Context
Policymakers and economists analyze this trend to evaluate financial access and monitor progress towards greater financial inclusion.
Key Facts
- Madagascar had over 2.5 million household bank depositors in 2020.
- The number of household depositors has grown by over 50% since 2010.
- Improving financial inclusion is a key development priority for Madagascar.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of household depositors with commercial banks in Madagascar. It provides insights into financial inclusion and access to formal banking services.
Q: Why is this trend relevant for users or analysts?
A: Tracking household deposit accounts is important for evaluating progress on financial sector development and financial inclusion initiatives in the country.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Madagascar and reported to the International Monetary Fund.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to monitor access to formal banking services and inform policies aimed at promoting greater financial inclusion.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be limitations in coverage or reporting consistency across different commercial banks.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors which are Households at Commercial Banks for Madagascar (MDGFCDODCHPENUM), retrieved from FRED.