Use of Financial Services: Number of Depositors at Commercial Banks for Maldives
MDVFCDODCPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
721,871.00
Year-over-Year Change
133.38%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of depositors at commercial banks in Maldives, providing insights into the country's financial services usage and economic activity.
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 at Commercial Banks for Maldives tracks the total number of individuals or entities that hold accounts at commercial banks in the island nation. This metric serves as an indicator of financial inclusion and the overall level of engagement with the formal banking system.
Methodology
The data is collected by the Maldives Monetary Authority through its monitoring of the country's commercial banking sector.
Historical Context
This trend is closely watched by policymakers and economists to assess the effectiveness of financial deepening initiatives and the health of the Maldivian economy.
Key Facts
- Maldives has a population of over 530,000 people.
- The number of depositors at commercial banks in Maldives has grown steadily in recent years.
- Financial inclusion is a key priority for the Maldivian government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of individuals or entities that hold accounts at commercial banks in Maldives, providing insights into the country's financial services usage.
Q: Why is this trend relevant for users or analysts?
A: The number of depositors at commercial banks is an important indicator of financial inclusion and the overall level of engagement with the formal banking system in Maldives, which is relevant for policymakers and economists assessing the country's economic development.
Q: How is this data collected or calculated?
A: The data is collected by the Maldives Monetary Authority through its monitoring of the country's commercial banking sector.
Q: How is this trend used in economic policy?
A: This trend is closely watched by policymakers and economists to assess the effectiveness of financial deepening initiatives and the health of the Maldivian economy.
Q: Are there update delays or limitations?
A: The Maldives Monetary Authority publishes this data on a regular basis, but there may be occasional delays or limitations in data availability.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors at Commercial Banks for Maldives (MDVFCDODCPENUM), retrieved from FRED.