Use of Financial Services: Key Indicators, Outstanding Balances on Active Mobile Money Accounts for Philippines
PHLFCMAABGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.11
Year-over-Year Change
62.00%
Date Range
1/1/2010 - 1/1/2019
Summary
This economic trend measures the outstanding balances on active mobile money accounts in the Philippines, providing insights into the use of digital financial services 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: Key Indicators, Outstanding Balances on Active Mobile Money Accounts for Philippines' series tracks the total value of funds held in mobile money accounts by individuals and businesses in the Philippines. This data is used by economists and policymakers to assess the growth and adoption of digital financial services.
Methodology
The data is collected and reported by the Bangko Sentral ng Pilipinas, the central bank of the Philippines.
Historical Context
Trends in mobile money account balances are closely monitored by financial regulators and market analysts to understand financial inclusion and the development of the digital payments ecosystem.
Key Facts
- The Philippines has one of the highest rates of mobile money account ownership in Southeast Asia.
- Mobile money services allow unbanked individuals to access digital financial tools.
- Outstanding mobile money account balances have grown rapidly in the Philippines in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of funds held in active mobile money accounts by individuals and businesses in the Philippines.
Q: Why is this trend relevant for users or analysts?
A: Trends in mobile money account balances provide insights into the growth and adoption of digital financial services, which is important for understanding financial inclusion and the development of the payments ecosystem.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Bangko Sentral ng Pilipinas, the central bank of the Philippines.
Q: How is this trend used in economic policy?
A: Policymakers and regulators closely monitor mobile money account balance trends to assess financial inclusion and the development of the digital payments ecosystem.
Q: Are there update delays or limitations?
A: The data is subject to the reporting schedule and any limitations of the Bangko Sentral ng Pilipinas.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Balances on Active Mobile Money Accounts for Philippines (PHLFCMAABGGDPPT), retrieved from FRED.