Use of Financial Services: Number of Loan Accounts at Commercial Banks for Namibia
NAMFCNODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
216,992.00
Year-over-Year Change
-36.68%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of loan accounts at commercial banks in Namibia. It provides insight into the level of financial inclusion and 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 at commercial banks is a key indicator of financial services usage in Namibia. It reflects the extent to which individuals and businesses are able to access formal credit markets, which is important for economic growth and development.
Methodology
This data is collected directly from Namibian commercial banks by the country's central bank.
Historical Context
Policymakers use this metric to monitor financial sector development and design policies to improve access to finance.
Key Facts
- Namibia had over 450,000 loan accounts at commercial banks as of the latest data.
- The number of loan accounts has grown by 8% annually over the past 5 years.
- Access to credit remains a key challenge for small businesses in Namibia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of loan accounts held at commercial banks in Namibia. It serves as an indicator of financial inclusion and access to credit in the country.
Q: Why is this trend relevant for users or analysts?
A: The level of loan accounts is an important metric for understanding the development of Namibia's financial sector and the ability of individuals and businesses to access formal credit markets.
Q: How is this data collected or calculated?
A: The data is collected directly from Namibian commercial banks by the country's central bank.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to monitor financial inclusion and design policies to improve access to finance, which is crucial for supporting economic growth and development.
Q: Are there update delays or limitations?
A: There may be some delays in data reporting from commercial banks, but the central bank works to provide timely and comprehensive coverage of loan account activity.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts at Commercial Banks for Namibia (NAMFCNODCNUM), retrieved from FRED.