Use of Financial Services: Key Indicators, Value of Mobile Money Transactions During the Reference Year for Philippines
PHLFCMTVGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
89.91
Year-over-Year Change
1603.77%
Date Range
1/1/2010 - 1/1/2023
Summary
The 'Use of Financial Services: Key Indicators, Value of Mobile Money Transactions During the Reference Year for Philippines' metric tracks the total value of mobile money transactions as a percentage of GDP in the Philippines.
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
This economic indicator provides insight into the adoption and usage of mobile financial services in the Philippines. It is used by economists, policymakers, and financial institutions to assess the growth and impact of digital payments in the country.
Methodology
The data is collected by the Bangko Sentral ng Pilipinas, the central bank of the Philippines.
Historical Context
This metric helps inform financial inclusion and digital transformation policies.
Key Facts
- The value of mobile money transactions was 0.75% of GDP in the Philippines in 2020.
- Mobile money usage has grown rapidly in the Philippines in recent years.
- Expanding digital financial services is a key policy priority for the Philippine government.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total value of mobile money transactions as a percentage of GDP in the Philippines.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the adoption and usage of digital financial services, which is crucial for assessing financial inclusion and the growth of the digital economy in the Philippines.
Q: How is this data collected or calculated?
A: The data is collected by the Bangko Sentral ng Pilipinas, the central bank of the Philippines.
Q: How is this trend used in economic policy?
A: This metric helps inform financial inclusion and digital transformation policies in the Philippines.
Q: Are there update delays or limitations?
A: The data is published annually with a slight delay, and may not capture all mobile money transactions in the informal economy.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Value of Mobile Money Transactions During the Reference Year for Philippines (PHLFCMTVGGDPPT), retrieved from FRED.