Use of Financial Services: Number of Loan Accounts at Other Depository Corporations for Papua New Guinea
PNGFCNODNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
355,123.00
Year-over-Year Change
131.10%
Date Range
1/1/2007 - 1/1/2014
Summary
This economic trend measures the number of loan accounts held at other depository corporations 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: Number of Loan Accounts at Other Depository Corporations for Papua New Guinea' trend tracks the total number of outstanding loan accounts held by individuals and businesses at non-bank financial institutions in Papua New Guinea. This metric is used to assess financial sector development and availability of credit in the country.
Methodology
The data is collected through surveys of financial service providers in Papua New Guinea.
Historical Context
This trend is relevant for policymakers and economists analyzing financial inclusion and access to credit in the Papua New Guinea economy.
Key Facts
- Papua New Guinea has a population of over 8 million people.
- Only 37% of adults in Papua New Guinea have a bank account.
- Access to credit remains a key challenge for businesses in Papua New Guinea.
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 non-bank financial institutions in Papua New Guinea.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial inclusion and access to credit in the Papua New Guinea economy, which is crucial for understanding economic development and growth.
Q: How is this data collected or calculated?
A: The data is collected through surveys of financial service providers in Papua New Guinea.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to analyze financial sector development and formulate policies to improve financial inclusion and access to credit in Papua New Guinea.
Q: Are there update delays or limitations?
A: The data may be subject to reporting lags and limitations in coverage of non-bank financial institutions in Papua New Guinea.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts at Other Depository Corporations for Papua New Guinea (PNGFCNODNUM), retrieved from FRED.