Use of Financial Services: Key Indicators, Borrowers from Commercial Banks Per 1000 Adults for Maldives
MDVFCRODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
346.74
Year-over-Year Change
149.29%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of borrowers from commercial banks per 1,000 adults in Maldives, providing insights into financial inclusion and banking access.
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, Borrowers from Commercial Banks Per 1000 Adults for Maldives' metric tracks the level of banking usage and financial services penetration within the adult population of Maldives. This data point is a valuable indicator for policymakers and analysts studying financial development and financial inclusion in the country.
Methodology
The data is collected by the World Bank through household surveys and banking sector reporting.
Historical Context
This trend is used to benchmark financial access and monitor progress towards greater financial inclusion in Maldives.
Key Facts
- Maldives had 302 borrowers per 1,000 adults in 2017.
- Financial inclusion has improved but remains below global averages.
- Access to credit is a key challenge for small businesses in Maldives.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of adult borrowers from commercial banks per 1,000 adults in Maldives, providing insights into financial inclusion and access to banking services.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for assessing financial development and monitoring progress towards greater financial inclusion in Maldives, which is a key driver of economic growth and poverty reduction.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank through household surveys and banking sector reporting.
Q: How is this trend used in economic policy?
A: Policymakers and institutions use this trend to benchmark financial access and design interventions to improve financial inclusion in Maldives.
Q: Are there update delays or limitations?
A: The data is published annually, with some delays due to the survey-based methodology. Coverage may be limited to formal banking sector and exclude informal financial services.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Borrowers from Commercial Banks Per 1000 Adults for Maldives (MDVFCRODCANUM), retrieved from FRED.