Use of Financial Services Borrowers: Persons Borrowing from Commercial Banks for Maldives
MDVFCRODCPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
141,507.00
Year-over-Year Change
261.66%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the use of financial services by borrowers in Maldives, specifically the number of persons borrowing from commercial banks. It provides insights into the level of financial inclusion and access to credit in the Maldivian economy.
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 Borrowers: Persons Borrowing from Commercial Banks for Maldives' metric tracks the number of individuals in Maldives who have taken out loans from commercial banks. This data point is crucial for understanding the financial health and inclusion of the Maldivian population.
Methodology
The data is collected through surveys and reporting from commercial banks operating in Maldives.
Historical Context
This trend is closely monitored by policymakers and financial institutions to assess the effectiveness of financial inclusion initiatives and identify opportunities for expanding access to credit.
Key Facts
- Maldives has a population of over 530,000 people.
- The Maldivian economy is heavily dependent on tourism and fishing.
- Access to financial services is a key development priority in Maldives.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of individuals in Maldives who are borrowing from commercial banks, providing insights into the level of financial inclusion and access to credit in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for understanding the financial health and inclusion of the Maldivian population, which is important for policymakers and financial institutions to assess the effectiveness of financial inclusion initiatives and identify opportunities for expanding access to credit.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reporting from commercial banks operating in Maldives.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers and financial institutions to assess the effectiveness of financial inclusion initiatives and identify opportunities for expanding access to credit in Maldives.
Q: Are there update delays or limitations?
A: The data may be subject to occasional delays in reporting and may not capture all informal financial activities in the Maldivian economy.
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Citation
U.S. Federal Reserve, Use of Financial Services Borrowers: Persons Borrowing from Commercial Banks for Maldives (MDVFCRODCPENUM), retrieved from FRED.