Use of Financial Services: Number of Depositors which are Households at Commercial Banks for Malawi
MWIFCDODCHPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,751,448.00
Year-over-Year Change
125.91%
Date Range
1/1/2007 - 1/1/2022
Summary
This economic trend measures the number of household depositors at commercial banks in Malawi. It provides insights into the level of financial inclusion and access to 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: Number of Depositors which are Households at Commercial Banks for Malawi' metric tracks the total number of household-level deposit accounts held at commercial banks operating in Malawi. This data point is used by economists and policymakers to gauge the breadth of financial services penetration and household participation in the formal banking system.
Methodology
The data is collected directly from commercial banks operating in Malawi and aggregated by the national statistics agency.
Historical Context
This trend is relevant for understanding financial inclusion policies and assessing the accessibility of banking services to the general population.
Key Facts
- Malawi has a population of over 19 million.
- As of the latest data, there are over 3 million household deposit accounts in Malawi.
- The number of household depositors has grown by over 50% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held by households at commercial banks operating in Malawi.
Q: Why is this trend relevant for users or analysts?
A: This data point provides insights into the level of financial inclusion and access to banking services for the general population in Malawi.
Q: How is this data collected or calculated?
A: The data is collected directly from commercial banks in Malawi and aggregated by the national statistics agency.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to evaluate financial inclusion initiatives and the accessibility of banking services to households.
Q: Are there update delays or limitations?
A: The data is published with a 1-2 quarter lag and may not capture all informal or mobile banking activities.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors which are Households at Commercial Banks for Malawi (MWIFCDODCHPENUM), retrieved from FRED.