Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Papua New Guinea
PNGFCAODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,084,715.00
Year-over-Year Change
170.42%
Date Range
1/1/2015 - 1/1/2022
Summary
This economic trend measures the use of financial services deposit accounts at commercial banks in Papua New Guinea. It provides insights into the country's financial inclusion and banking sector activity.
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 Papua New Guinea' data series tracks the number of deposit accounts held at commercial banks in Papua New Guinea. It serves as an indicator of financial access and banking sector development in the country.
Methodology
The data is collected by the Bank of Papua New Guinea and reported to the International Monetary Fund.
Historical Context
This metric is useful for policymakers and analysts assessing financial inclusion and the growth of the banking system in Papua New Guinea.
Key Facts
- Papua New Guinea has a population of over 8 million people.
- The number of deposit accounts at commercial banks in Papua New Guinea has grown in recent years.
- Financial inclusion remains a challenge in parts of the country.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of deposit accounts held at commercial banks in Papua New Guinea. It provides insight into the level of financial inclusion and banking sector activity in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is useful for policymakers and analysts assessing financial access and the development of the banking system in Papua New Guinea.
Q: How is this data collected or calculated?
A: The data is collected by the Bank of Papua New Guinea and reported to the International Monetary Fund.
Q: How is this trend used in economic policy?
A: This trend can inform policies aimed at promoting financial inclusion and strengthening the banking sector in Papua New Guinea.
Q: Are there update delays or limitations?
A: The data may be subject to occasional reporting delays or limitations in coverage, as is common with economic statistics from developing countries.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Papua New Guinea (PNGFCAODCNUM), retrieved from FRED.