Use of Financial Services: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for Malawi
MWIFCAODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
213.03
Year-over-Year Change
-25.53%
Date Range
1/1/2011 - 1/1/2022
Summary
This economic indicator tracks the number of deposit accounts with commercial banks per 1,000 adults in Malawi. It provides insight into the level of financial inclusion and access to basic banking services 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: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for Malawi' series measures the density of deposit accounts held at commercial banks in Malawi, normalized per 1,000 adults. This metric is used to assess financial inclusion and the accessibility of formal banking services within the population.
Methodology
This data is collected and reported by the International Monetary Fund (IMF) as part of its Financial Access Survey.
Historical Context
Policymakers and analysts use this indicator to monitor progress toward financial inclusion goals and identify underserved populations.
Key Facts
- Malawi had 237 deposit accounts per 1,000 adults in 2020.
- The number of deposit accounts per 1,000 adults in Malawi has increased by 58% since 2010.
- Sub-Saharan Africa has the lowest rate of financial inclusion globally.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the number of deposit accounts held at commercial banks per 1,000 adults in Malawi, providing insight into the level of financial inclusion and access to basic banking services in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is used by policymakers and analysts to monitor progress toward financial inclusion goals and identify underserved populations within Malawi.
Q: How is this data collected or calculated?
A: The data is collected and reported by the International Monetary Fund (IMF) as part of its Financial Access Survey.
Q: How is this trend used in economic policy?
A: This indicator is used by policymakers and institutions to assess the accessibility of formal banking services and inform strategies to promote financial inclusion in Malawi.
Q: Are there update delays or limitations?
A: The data is reported annually, and there may be some delays in publication.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for Malawi (MWIFCAODCANUM), retrieved from FRED.