Use of Financial Services: Key Indicators Active Mobile Money Accounts Per 1000 Adults for Philippines
PHLFCMAAANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
853.86
Year-over-Year Change
683.45%
Date Range
1/1/2010 - 1/1/2023
Summary
This trend measures the number of active mobile money accounts per 1,000 adults in the Philippines. It is an important indicator of financial inclusion and the adoption of digital financial services.
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 active mobile money accounts per 1,000 adults metric tracks the penetration of mobile money services in the Philippine population. It provides insights into the country's progress in expanding access to formal financial tools, which is crucial for economic development.
Methodology
The data is collected and reported by the World Bank, based on information provided by national authorities.
Historical Context
Policymakers and financial institutions use this indicator to monitor financial inclusion and guide initiatives that promote the use of digital financial services.
Key Facts
- Philippines has over 30 million active mobile money accounts.
- Mobile money accounts per 1,000 adults in the Philippines reached 575 in 2021.
- The Philippines is a global leader in mobile money adoption and usage.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of active mobile money accounts per 1,000 adults in the Philippines. It tracks the adoption and usage of digital financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This indicator is crucial for understanding financial inclusion and the progress of digital financial services in the Philippines. It provides insights that can guide policies and initiatives to expand access to formal financial tools.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank, based on information provided by national authorities in the Philippines.
Q: How is this trend used in economic policy?
A: Policymakers and financial institutions use this indicator to monitor financial inclusion and guide initiatives that promote the use of digital financial services in the Philippines.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank. There may be some delays in reporting, but the indicator provides a reliable measure of mobile money adoption in the Philippines.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators Active Mobile Money Accounts Per 1000 Adults for Philippines (PHLFCMAAANUM), retrieved from FRED.