Use of Financial Services: Number of Loan Accounts for Households at Commercial Banks for Nicaragua
NICFCNODCHNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,364,468.00
Year-over-Year Change
108.03%
Date Range
1/1/2008 - 1/1/2023
Summary
This economic trend measures the number of loan accounts held by households at commercial banks in Nicaragua. It provides insights into the level of financial inclusion and access to credit 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 Loan Accounts for Households at Commercial Banks for Nicaragua' series tracks the total number of loan accounts held by households at commercial banks in Nicaragua. This metric is an important indicator of financial inclusion and the extent to which households can access formal credit channels.
Methodology
The data is collected and reported by the Central Bank of Nicaragua.
Historical Context
Policymakers and analysts use this trend to assess the development of Nicaragua's financial sector and identify areas for improving household access to credit.
Key Facts
- The number of household loan accounts in Nicaragua has grown from 462,302 in 2010 to 700,873 in 2020.
- Nicaragua's financial inclusion rate, as measured by the share of adults with a bank account, was 35% in 2017.
- Access to credit is an important driver of economic development and household welfare in Nicaragua.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of loan accounts held by households at commercial banks in Nicaragua. It provides insights into the level of financial inclusion and access to credit in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers and analysts who want to assess the development of Nicaragua's financial sector and identify areas for improving household access to credit, which is an important driver of economic development and household welfare.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Nicaragua.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to evaluate the level of financial inclusion and access to credit in Nicaragua, which informs policies and initiatives aimed at promoting financial sector development and improving household welfare.
Q: Are there update delays or limitations?
A: The data is published by the Central Bank of Nicaragua, and there may be some delays in reporting or limitations in the underlying data collection methods.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts for Households at Commercial Banks for Nicaragua (NICFCNODCHNUM), retrieved from FRED.