Use of Financial Services Deposit Accounts: Accounts at Credit Unions and Financial Cooperatives for Papua New Guinea
PNGFCAODUNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
246,748.00
Year-over-Year Change
-12.48%
Date Range
1/1/2015 - 1/1/2022
Summary
This economic trend measures the use of financial services deposit accounts at credit unions and financial cooperatives in Papua New Guinea. It provides insights into the financial behavior and inclusion of PNG's population.
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 Credit Unions and Financial Cooperatives for Papua New Guinea metric tracks the number of deposit accounts held at these institutions. It offers a window into the financial services landscape and accessibility in the country.
Methodology
The data is collected through surveys and reports from credit unions and financial cooperatives in Papua New Guinea.
Historical Context
This trend is useful for policymakers and financial institutions to understand financial inclusion and development in the PNG economy.
Key Facts
- Papua New Guinea has a population of over 8 million.
- The majority of PNG's population lives in rural areas.
- Financial inclusion remains a challenge in the country.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of deposit accounts held at credit unions and financial cooperatives in Papua New Guinea. It provides insights into financial inclusion and access to formal banking services.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the state of financial inclusion and development in the Papua New Guinea economy. It can inform policymakers and financial institutions on areas for improvement.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reports from credit unions and financial cooperatives operating in Papua New Guinea.
Q: How is this trend used in economic policy?
A: This trend can be used by policymakers and financial regulators to assess financial inclusion and develop strategies to improve access to formal banking services in Papua New Guinea.
Q: Are there update delays or limitations?
A: The data may be subject to delays in reporting and limited coverage of the financial services landscape in Papua New Guinea.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Credit Unions and Financial Cooperatives for Papua New Guinea (PNGFCAODUNUM), retrieved from FRED.