Use of Financial Services Borrowers: Persons Borrowing from Commercial Banks for Namibia
NAMFCRODCPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
184,548.00
Year-over-Year Change
-10.45%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the use of financial services by borrowers in Namibia, specifically the number of persons borrowing from commercial banks. It provides insights 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 'Use of Financial Services Borrowers: Persons Borrowing from Commercial Banks for Namibia' metric tracks the number of individuals in Namibia who have taken out loans from commercial banks. This data point is important for understanding financial access and the health of the lending environment in the country.
Methodology
The data is collected by the Bank of Namibia through surveys and reporting from commercial banks operating in the country.
Historical Context
This trend is closely monitored by policymakers, economists, and financial institutions to assess the state of financial inclusion and inform policies to promote broader access to credit.
Key Facts
- Namibia has a population of approximately 2.5 million people.
- The banking sector in Namibia is dominated by a few large commercial banks.
- Access to formal financial services remains a challenge for many Namibians.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of individuals in Namibia who are borrowing from commercial banks, providing insights into financial inclusion and access to credit in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the state of financial access and the health of the lending environment in Namibia, which is crucial for policymakers and financial institutions.
Q: How is this data collected or calculated?
A: The data is collected by the Bank of Namibia through surveys and reporting from commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, economists, and financial institutions to assess financial inclusion and inform policies to promote broader access to credit in Namibia.
Q: Are there update delays or limitations?
A: The data may be subject to reporting delays by commercial banks, and the metric may not capture informal lending activities outside the formal banking sector.
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Citation
U.S. Federal Reserve, Use of Financial Services Borrowers: Persons Borrowing from Commercial Banks for Namibia (NAMFCRODCPENUM), retrieved from FRED.