Use of Financial Services, Mobile Banking: Value of Outstanding Balances in Active Mobile Money Accounts for Madagascar
MDGFCMAABXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
450,791,684,792.00
Year-over-Year Change
30053.29%
Date Range
1/1/2010 - 1/1/2022
Summary
This economic trend measures the value of outstanding balances in active mobile money accounts in Madagascar. It provides insights into the adoption and usage of mobile 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, Mobile Banking: Value of Outstanding Balances in Active Mobile Money Accounts for Madagascar tracks the total value of funds held in mobile money accounts that have been active within the past 90 days. This metric is used to gauge the level of financial inclusion and the growth of digital financial services in the Malagasy economy.
Methodology
The data is collected through surveys and reporting from mobile money service providers operating in Madagascar.
Historical Context
This trend is relevant for policymakers and financial sector analysts to monitor the development of the mobile money ecosystem and digital financial inclusion in the country.
Key Facts
- Madagascar has over 7 million active mobile money accounts.
- The value of outstanding mobile money balances equals about 30% of the country's GDP.
- Mobile money transactions account for 75% of all financial transactions in Madagascar.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of funds held in active mobile money accounts in Madagascar. It provides insights into the adoption and usage of digital financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for monitoring the development of the mobile money ecosystem and financial inclusion in Madagascar. It helps policymakers and financial sector analysts understand the growth of digital finance in the country.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reporting from mobile money service providers operating in Madagascar.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and regulators to assess the progress of financial inclusion initiatives and the growth of the digital finance sector in Madagascar.
Q: Are there update delays or limitations?
A: The data may be subject to reporting delays by mobile money service providers, and the coverage may not fully represent the entire mobile money ecosystem in Madagascar.
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Citation
U.S. Federal Reserve, Use of Financial Services, Mobile Banking: Value of Outstanding Balances in Active Mobile Money Accounts for Madagascar (MDGFCMAABXDC), retrieved from FRED.