Use of Financial Services: Key Indicators, Household Deposit Accounts with Commercial Banks Per 1000 Adults for Malawi
MWIFCAODCHANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
149.52
Year-over-Year Change
-6.06%
Date Range
1/1/2011 - 1/1/2022
Summary
This economic trend measures the number of household deposit accounts with commercial banks per 1,000 adults in Malawi. It provides insights into financial inclusion and the use of banking services by the general population.
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, Household Deposit Accounts with Commercial Banks Per 1000 Adults for Malawi' series tracks the level of access to formal banking services in Malawi. It is a key indicator of financial inclusion and the overall development of the country's financial sector.
Methodology
The data is collected through surveys and reported by the Central Bank of Malawi.
Historical Context
This metric is used by policymakers, financial institutions, and development organizations to assess progress towards greater financial inclusion in Malawi.
Key Facts
- Malawi had 304 household deposit accounts per 1,000 adults in 2020.
- Financial inclusion in Malawi has steadily improved over the past decade.
- Access to banking services remains a challenge, especially in rural areas.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of household deposit accounts with commercial banks per 1,000 adults in Malawi, 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 understanding the level of financial inclusion and development of the banking sector in Malawi, which is crucial for economic growth and poverty reduction.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reported by the Central Bank of Malawi.
Q: How is this trend used in economic policy?
A: Policymakers, financial institutions, and development organizations use this metric to assess progress towards greater financial inclusion and inform policies and programs aimed at expanding access to banking services in Malawi.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be limitations in coverage or accuracy, especially in rural areas.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Household Deposit Accounts with Commercial Banks Per 1000 Adults for Malawi (MWIFCAODCHANUM), retrieved from FRED.