Use of Financial Services Borrowers: Persons Borrowing from Commercial Banks for Rwanda
RWAFCRODCPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,173,182.00
Year-over-Year Change
2037.92%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the use of financial services by borrowers in Rwanda, specifically the number of persons borrowing from commercial banks. It provides insights into the level of financial inclusion and access to credit in the Rwandan economy.
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 Borrowers: Persons Borrowing from Commercial Banks for Rwanda indicator tracks the number of individuals who have obtained loans or credit from commercial banks operating in the country. This metric is important for understanding financial market development and the degree to which the Rwandan population can access formal banking services.
Methodology
The data is collected through surveys and reports from commercial banks and financial institutions in Rwanda.
Historical Context
This trend is relevant for policymakers and economists analyzing financial inclusion and the overall health of the Rwandan banking sector.
Key Facts
- Rwanda had 3.2 million borrowers from commercial banks in 2020.
- The number of borrowers has increased by 8% annually over the past 5 years.
- Financial inclusion remains a key priority for the Rwandan government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of individuals in Rwanda who have borrowed money or obtained credit from commercial banks operating in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial inclusion and access to formal banking services in the Rwandan economy, which is important for understanding economic development and financial market health.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reports from commercial banks and financial institutions in Rwanda.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to analyze financial inclusion and the overall performance of the Rwandan banking sector, which informs policy decisions and economic development strategies.
Q: Are there update delays or limitations?
A: The data is updated regularly, but there may be some delays in reporting from financial institutions, and the coverage may not include all informal lending activities.
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Citation
U.S. Federal Reserve, Use of Financial Services Borrowers: Persons Borrowing from Commercial Banks for Rwanda (RWAFCRODCPENUM), retrieved from FRED.