Use of Financial Services Deposit Accounts: Small and Medium Enterprise Accounts at Commercial Banks for Malawi
MWIFCAODCSNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
151,087.00
Year-over-Year Change
329.93%
Date Range
1/1/2011 - 1/1/2022
Summary
This economic trend measures the number of small and medium enterprise (SME) deposit accounts at commercial banks in Malawi. It provides insights into the level of financial inclusion and access to banking services for the SME sector, which is crucial for economic development.
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 Deposit Accounts: Small and Medium Enterprise Accounts at Commercial Banks for Malawi' trend tracks the total number of deposit accounts held by SMEs at commercial banks in the country. This data point is an important indicator of financial inclusion and the ability of small businesses to access formal banking services.
Methodology
The data is collected by the Central Bank of Malawi through its surveys of commercial banks operating in the country.
Historical Context
This trend is relevant for policymakers, economists, and financial institutions to assess the financial health and access to credit for the SME sector in Malawi.
Key Facts
- Malawi has a large SME sector, comprising over 1 million small businesses.
- Only 19% of SMEs in Malawi have access to formal banking services.
- The government aims to increase SME financial inclusion to 50% by 2025.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held by small and medium enterprises (SMEs) at commercial banks in Malawi.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the level of financial inclusion and access to banking services for the SME sector in Malawi, which is crucial for economic development and growth.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Malawi through its surveys of commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers, economists, and financial institutions to assess the financial health and access to credit for the SME sector in Malawi.
Q: Are there update delays or limitations?
A: The data is subject to the survey and reporting processes of the Central Bank of Malawi, which may result in occasional delays or limitations in the availability of the most recent information.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Small and Medium Enterprise Accounts at Commercial Banks for Malawi (MWIFCAODCSNUM), retrieved from FRED.