Use of Financial Services: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for Saudi Arabia
SAUFCAODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,114.49
Year-over-Year Change
173.27%
Date Range
1/1/2009 - 1/1/2023
Summary
This economic indicator tracks the number of deposit accounts with commercial banks per 1,000 adults in Saudi Arabia. It provides insights into the level of financial inclusion and access to basic banking services 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, Deposit Accounts with Commercial Banks Per 1000 Adults for Saudi Arabia' metric measures the prevalence of deposit accounts at commercial banks across the adult population. This data point is used by economists and policymakers to assess financial inclusion and access to the formal banking system.
Methodology
The data is collected and reported by the Saudi Arabian Monetary Authority (SAMA).
Historical Context
This indicator is relevant for understanding the development of Saudi Arabia's financial sector and the government's efforts to promote broader access to banking services.
Key Facts
- Saudi Arabia had 1,207 deposit accounts per 1,000 adults in 2020.
- The number of deposit accounts has grown by over 60% since 2010.
- Financial inclusion is a key priority for the Saudi government's economic reform agenda.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the number of deposit accounts with commercial banks per 1,000 adults in Saudi Arabia, providing insights into financial inclusion and access to basic banking services.
Q: Why is this trend relevant for users or analysts?
A: This data point is used by economists and policymakers to assess the development of Saudi Arabia's financial sector and the government's efforts to promote broader access to banking services.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Saudi Arabian Monetary Authority (SAMA).
Q: How is this trend used in economic policy?
A: This indicator is relevant for understanding Saudi Arabia's financial sector development and the government's agenda to improve financial inclusion across the population.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not capture the most recent changes in the banking sector.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for Saudi Arabia (SAUFCAODCANUM), retrieved from FRED.