Use of Financial Services: Key Indicators, Loan Accounts with Commercial Banks Per 1,000 Adults for Papua New Guinea
PNGFCNODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.47
Year-over-Year Change
56.29%
Date Range
1/1/2004 - 1/1/2022
Summary
This economic indicator tracks the number of loan accounts with commercial banks per 1,000 adults in Papua New Guinea. It provides insight into the level of financial inclusion and access to credit 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, Loan Accounts with Commercial Banks Per 1,000 Adults for Papua New Guinea' series measures the penetration of formal banking services. It is an important metric for policymakers and economists assessing financial development and financial inclusion.
Methodology
This data is collected directly from Papua New Guinea's central bank and commercial banking institutions.
Historical Context
Trends in this indicator help inform financial sector policies and regulations aimed at expanding access to credit and banking services.
Key Facts
- Papua New Guinea has a population of over 9 million people.
- In 2021, there were 17.6 loan accounts per 1,000 adults in the country.
- Financial inclusion remains a challenge, with only 37% of adults having a bank account.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the number of loan accounts held with commercial banks per 1,000 adults in Papua New Guinea. It provides insight into the level of access to formal credit and financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding financial inclusion and the development of the banking sector in Papua New Guinea. It informs policymakers and economists about barriers to credit access and opportunities for expanding formal financial services.
Q: How is this data collected or calculated?
A: The data is collected directly from Papua New Guinea's central bank and commercial banking institutions.
Q: How is this trend used in economic policy?
A: Trends in this indicator help inform financial sector policies and regulations aimed at increasing access to credit and banking services, which are crucial for economic development.
Q: Are there update delays or limitations?
A: The data is updated annually, and there may be lags in reporting from local banking sources.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Loan Accounts with Commercial Banks Per 1,000 Adults for Papua New Guinea (PNGFCNODCANUM), retrieved from FRED.