Use of Financial Services: Key Indicators, Loan Accounts with Credit Unions and Financial Cooperatives Per 1,000 Adults for Malawi
MWIFCNODUANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15.74
Year-over-Year Change
8.75%
Date Range
1/1/2004 - 1/1/2022
Summary
This economic trend measures the number of loan accounts with credit unions and financial cooperatives per 1,000 adults in Malawi. It provides insights into the accessibility and usage of financial services within 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, Loan Accounts with Credit Unions and Financial Cooperatives Per 1,000 Adults for Malawi' series tracks the level of financial inclusion and the penetration of credit-based financial services among the adult population in Malawi.
Methodology
The data is collected and calculated by the World Bank as part of its Global Financial Inclusion (Global Findex) database.
Historical Context
This metric is used by policymakers and financial institutions to assess the state of financial inclusion and access to credit in Malawi.
Key Facts
- Malawi has 53 loan accounts with credit unions and financial cooperatives per 1,000 adults.
- Financial inclusion remains a challenge in Malawi, with only 34% of adults having an account at a financial institution.
- Credit unions and cooperatives play a crucial role in providing financial services to underserved communities in Malawi.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of loan accounts with credit unions and financial cooperatives per 1,000 adults in Malawi. It provides insights into the level of financial inclusion and access to credit-based financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the state of financial inclusion and the accessibility of credit-based services in Malawi. It helps policymakers and financial institutions assess the progress in expanding financial access and identify areas for improvement.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank as part of its Global Financial Inclusion (Global Findex) database.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and financial institutions in Malawi to monitor the progress of financial inclusion initiatives and inform policies and strategies aimed at increasing access to credit-based financial services.
Q: Are there update delays or limitations?
A: The data is published by the World Bank on a periodic basis, typically every three years. There may be delays in the availability of the most recent data, and the metric may not capture all forms of credit-based financial services in Malawi.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Loan Accounts with Credit Unions and Financial Cooperatives Per 1,000 Adults for Malawi (MWIFCNODUANUM), retrieved from FRED.