Use of Financial Services: Key Indicators, Loan Accounts with Commercial Banks Per 1,000 Adults for Madagascar
MDGFCNODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
148.70
Year-over-Year Change
628.65%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of loan accounts with commercial banks per 1,000 adults in Madagascar. It provides insights into the level of financial inclusion and access to credit 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, Loan Accounts with Commercial Banks Per 1,000 Adults for Madagascar' data series tracks the availability and utilization of formal banking services by the adult population in Madagascar. This metric is a key indicator of financial inclusion and economic development.
Methodology
The data is collected and reported by the World Bank based on surveys and commercial bank reporting.
Historical Context
Policymakers and economists use this trend to assess progress towards financial inclusion goals and identify areas for improvement in Madagascar's banking sector.
Key Facts
- Madagascar had 149 loan accounts per 1,000 adults in 2021.
- This indicator has increased by 31% since 2011.
- Access to banking services remains limited compared to regional peers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of loan accounts held with commercial banks per 1,000 adults in Madagascar. It provides an indicator of financial inclusion and access to credit in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the development of Madagascar's banking sector and progress towards broader financial inclusion goals. It informs policymakers and economists about access to formal financial services.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank based on surveys of commercial banks and other financial institutions in Madagascar.
Q: How is this trend used in economic policy?
A: Policymakers and development institutions use this indicator to assess the effectiveness of efforts to expand access to financial services and credit in Madagascar. It informs policy decisions aimed at promoting financial inclusion.
Q: Are there update delays or limitations?
A: The data is reported annually, with a lag of approximately one year. There may be limitations in coverage or reporting consistency across different financial institutions in Madagascar.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Loan Accounts with Commercial Banks Per 1,000 Adults for Madagascar (MDGFCNODCANUM), retrieved from FRED.