Use of Financial Services: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for Solomon Islands
SLBFCAODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
519.15
Year-over-Year Change
84.16%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of deposit accounts with commercial banks per 1,000 adults in Solomon Islands. It provides insights into the level of financial inclusion and access to 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 Solomon Islands' trend tracks the availability and utilization of basic banking services by the adult population in Solomon Islands. This metric is used by policymakers and economists to gauge financial inclusion and overall access to the formal financial system.
Methodology
The data is collected by the World Bank from national sources and regulatory agencies.
Historical Context
This indicator is relevant for assessing progress toward financial development and inclusive growth objectives in Solomon Islands.
Key Facts
- Solomon Islands had 249 deposit accounts per 1,000 adults in 2020.
- The trend has steadily increased from 185 accounts per 1,000 adults in 2004.
- Access to banking services remains limited compared to other developing economies.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of deposit accounts with commercial banks per 1,000 adults in Solomon Islands. It provides an indicator of financial inclusion and access to basic banking services in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for policymakers and economists to assess progress toward financial development and inclusive growth objectives in Solomon Islands.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank from national sources and regulatory agencies.
Q: How is this trend used in economic policy?
A: This indicator is relevant for evaluating financial inclusion and access to banking services, which are key factors in promoting inclusive economic growth and development.
Q: Are there update delays or limitations?
A: The data is published annually with a slight delay, and may not capture the most recent changes in the financial landscape.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for Solomon Islands (SLBFCAODCANUM), retrieved from FRED.