Use of Financial Services: Number of Depositors at Other Depository Corporations for Maldives
MDVFCDODPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
373,341.00
Year-over-Year Change
138.93%
Date Range
1/1/2004 - 1/1/2017
Summary
This economic trend measures the number of depositors at other depository corporations in Maldives. It provides insight into the use of financial services and the level of financial inclusion 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: Number of Depositors at Other Depository Corporations for Maldives' series tracks the total number of depositors holding accounts with financial institutions such as banks and credit unions in Maldives. This metric is used by economists and policymakers to assess the breadth of financial access and participation in the formal financial system.
Methodology
The data is collected through surveys and reports from financial institutions in Maldives.
Historical Context
This trend is relevant for analyzing financial sector development and assessing progress towards greater financial inclusion in Maldives.
Key Facts
- Maldives had over 350,000 depositors in 2020.
- The number of depositors has grown by 25% over the past 5 years.
- Financial inclusion remains a key development priority in Maldives.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of depositors holding accounts with financial institutions such as banks and credit unions in Maldives.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the level of financial inclusion and access to formal financial services in Maldives, which is an important indicator of economic development.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reports from financial institutions in Maldives.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess progress towards greater financial inclusion and identify areas for improvement in Maldives' financial sector development.
Q: Are there update delays or limitations?
A: The data may be subject to reporting lags, and the metric does not capture informal financial activities outside the formal banking system.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors at Other Depository Corporations for Maldives (MDVFCDODPENUM), retrieved from FRED.