Use of Financial Services, Mobile Banking: Value of Mobile Money Transactions (during the Reference Year) for Philippines
PHLFCMTVXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,864,324,604,356.50
Year-over-Year Change
3984.26%
Date Range
1/1/2010 - 1/1/2023
Summary
This economic trend measures the value of mobile money transactions in the Philippines during a reference year. It provides insights into the adoption and usage of mobile financial services, which is an important indicator of financial inclusion and digital transformation.
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, Mobile Banking: Value of Mobile Money Transactions (during the Reference Year) for Philippines series tracks the total value of mobile money transactions conducted in the Philippines over a given year. This metric is used by economists and policymakers to assess the growth and impact of mobile financial services in the country.
Methodology
The data is collected by the Central Bank of the Philippines through reports from mobile money service providers.
Historical Context
This trend is relevant for understanding the development of the digital finance ecosystem and its role in promoting financial inclusion in the Philippines.
Key Facts
- The value of mobile money transactions in the Philippines reached over $X billion in the reference year.
- Mobile money accounts in the Philippines grew by X% year-over-year during the reference period.
- The Philippines is one of the fastest-growing mobile money markets in Southeast Asia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of mobile money transactions conducted in the Philippines during a reference year. It provides insights into the adoption and usage of mobile financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important indicator of financial inclusion and digital transformation in the Philippines. It helps economists and policymakers understand the growth and impact of mobile money services in the country.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of the Philippines through reports from mobile money service providers.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and regulators to assess the development of the digital finance ecosystem and its role in promoting financial inclusion in the Philippines.
Q: Are there update delays or limitations?
A: There may be a delay of several months in the availability of the latest data, as it is dependent on reporting from mobile money service providers.
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Citation
U.S. Federal Reserve, Use of Financial Services, Mobile Banking: Value of Mobile Money Transactions (during the Reference Year) for Philippines (PHLFCMTVXDC), retrieved from FRED.