Use of Financial Services: Number of Borrowers at Other Depository Corporations for Maldives
MDVFCRODPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
58,375.00
Year-over-Year Change
87.68%
Date Range
1/1/2004 - 1/1/2017
Summary
This economic trend measures the number of borrowers at other depository corporations in Maldives. It provides insights into the level of financial intermediation 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: Number of Borrowers at Other Depository Corporations for Maldives' trend tracks the total number of individuals or entities that have outstanding loans or credit from non-bank financial institutions in Maldives. This metric is used to assess financial inclusion and the depth of the nation's credit markets.
Methodology
The data is collected through surveys and regulatory reporting from financial institutions in Maldives.
Historical Context
Policymakers and analysts use this metric to monitor financial sector development and financial stability in Maldives.
Key Facts
- Maldives has a population of around 531,000 as of 2022.
- The Maldivian economy is heavily reliant on tourism, which accounts for over 60% of GDP.
- Financial inclusion remains a challenge, with only around 47% of adults having a bank account as of 2017.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of borrowers at non-bank financial institutions, such as microfinance providers and leasing companies, in Maldives.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial intermediation and access to credit in the Maldivian economy, which is important for assessing financial inclusion and economic development.
Q: How is this data collected or calculated?
A: The data is collected through surveys and regulatory reporting from financial institutions in Maldives.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to monitor financial sector development and financial stability in Maldives.
Q: Are there update delays or limitations?
A: The data may be subject to occasional delays in reporting and publication by the relevant authorities in Maldives.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Borrowers at Other Depository Corporations for Maldives (MDVFCRODPENUM), retrieved from FRED.