Use of Financial Services: Number of Loan Accounts at Commercial Banks for Papua New Guinea
PNGFCNODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
216,567.00
Year-over-Year Change
121.24%
Date Range
1/1/2004 - 1/1/2022
Summary
This economic trend measures the number of loan accounts held at commercial banks in Papua New Guinea. It provides insight into the level of financial intermediation and access to credit within the country's banking system.
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: Number of Loan Accounts at Commercial Banks for Papua New Guinea series tracks the total number of outstanding loan accounts held by individuals and businesses at commercial banks operating in the country. This metric offers a window into the depth and breadth of financial inclusion and credit access for the Papua New Guinean population.
Methodology
The data is collected and reported by the Bank of Papua New Guinea, the country's central banking authority.
Historical Context
Policymakers and analysts use this metric to monitor the development and penetration of the formal banking sector in Papua New Guinea.
Key Facts
- Papua New Guinea has a population of over 8 million people.
- The country's banking sector is dominated by a small number of large commercial banks.
- Access to formal financial services remains limited, especially in rural areas.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of outstanding loan accounts held by individuals and businesses at commercial banks operating in Papua New Guinea.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the level of financial intermediation and access to credit within Papua New Guinea's banking system, which is important for understanding economic development and financial inclusion in the country.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Bank of Papua New Guinea, the country's central banking authority.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to monitor the development and penetration of the formal banking sector in Papua New Guinea, which is a key factor in promoting financial inclusion and economic growth.
Q: Are there update delays or limitations?
A: The data may be subject to periodic updates and revisions by the reporting authority.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts at Commercial Banks for Papua New Guinea (PNGFCNODCNUM), retrieved from FRED.