Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Panama
PANFCAODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,056,299.00
Year-over-Year Change
122.03%
Date Range
1/1/2007 - 1/1/2023
Summary
This economic trend measures the number of financial services deposit accounts held at commercial banks in Panama. It provides insights into the level of financial inclusion and the use of formal banking services in the Panamanian 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 Deposit Accounts: Accounts at Commercial Banks for Panama is an important indicator of financial development and accessibility. It tracks the total number of deposit accounts held by individuals and businesses at commercial banks operating in Panama, offering a window into the country's financial landscape.
Methodology
The data is collected and reported by the Central Bank of Panama.
Historical Context
This trend is valuable for policymakers, economists, and financial analysts to assess the progress of financial inclusion and the reach of the formal banking system in Panama.
Key Facts
- The number of deposit accounts in Panama has steadily increased over the past decade.
- Panama has a relatively high rate of financial inclusion compared to other Latin American countries.
- Promoting financial inclusion is a key policy priority for the Panamanian government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held at commercial banks in Panama, providing insights into the level of financial inclusion and access to formal banking services in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the development and accessibility of the financial system in Panama, which is crucial for economic growth, financial stability, and improving living standards.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Panama.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the progress of financial inclusion initiatives and the reach of the formal banking system in Panama, informing policies aimed at promoting greater access to financial services.
Q: Are there update delays or limitations?
A: The data is typically reported with a lag, and there may be some limitations in capturing informal or unregistered financial activities.
Related Trends
People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Panama
DDAI07PAA156NWDB
Number of Identified Exporters to Panama from Kentucky
KYPANA475SCEN
Value of Exports to Panama from Connecticut
CTPANA052SCEN
Number of Identified Exporters to Panama from New Mexico
NMPANA475SCEN
Pension Fund Assets to GDP for Panama
DDDI13PAA156NWDB
Number of Identified Exporters to Panama from Michigan
MIPANA475SCEN
Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Panama (PANFCAODCNUM), retrieved from FRED.