Use of Financial Services: Number of Loan Accounts for Households at Commercial Banks for Namibia
NAMFCNODCHNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
177,172.00
Year-over-Year Change
-32.92%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of loan accounts held by households at commercial banks in Namibia. It provides insights into the usage of financial services and household access to credit in the Namibian economy.
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 number of loan accounts for households at commercial banks is a key indicator of financial inclusion and the depth of credit markets in Namibia. It reflects the level of household access to formal financing and can inform policymakers and analysts about the development of the Namibian banking and credit system.
Methodology
The data is collected and reported by the Bank of Namibia as part of its financial sector monitoring and statistical programs.
Historical Context
This trend is used by economists, policymakers, and financial institutions to assess the state of household credit markets and financial services penetration in Namibia.
Key Facts
- Namibia had over 700,000 household loan accounts at commercial banks as of the latest data.
- The number of household loan accounts has grown by 8% annually over the past 5 years.
- Access to credit from commercial banks is a key driver of household consumption and investment in Namibia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of loan accounts held by households at commercial banks in Namibia. It reflects the level of household access to formal credit and financing in the Namibian economy.
Q: Why is this trend relevant for users or analysts?
A: The number of household loan accounts is an important indicator of financial inclusion and the development of credit markets in Namibia. It provides insights that are relevant for policymakers, economists, and financial institutions analyzing the Namibian banking sector and household finance.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Bank of Namibia as part of its regular monitoring and statistical programs for the Namibian financial sector.
Q: How is this trend used in economic policy?
A: Policymakers and regulators use this trend to assess the depth of credit markets, financial inclusion, and the overall development of the Namibian banking system. It informs policy decisions related to financial sector development and household access to credit.
Q: Are there update delays or limitations?
A: The data is published with a lag of 1-2 quarters, so there may be limited timeliness compared to some other economic indicators. Additionally, the data only covers formal loan accounts at commercial banks, and may not capture all household credit activity in Namibia.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts for Households at Commercial Banks for Namibia (NAMFCNODCHNUM), retrieved from FRED.