Use of Financial Services Borrowers: Persons Borrowing from Commercial Banks for Solomon Islands
SLBFCRODCPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19,212.00
Year-over-Year Change
264.42%
Date Range
1/1/2012 - 1/1/2023
Summary
This economic trend measures the use of financial services by borrowers in Solomon Islands, specifically the number of persons borrowing from commercial banks. 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 Borrowers: Persons Borrowing from Commercial Banks for Solomon Islands' data series tracks the number of individuals who have obtained loans or credit from commercial banks in Solomon Islands. This metric is used by economists and policymakers to assess financial sector development and identify opportunities to expand access to formal financial services.
Methodology
The data is collected by the Central Bank of Solomon Islands through surveys of commercial banks operating in the country.
Historical Context
This trend is relevant for understanding the depth of financial intermediation and identifying areas for financial inclusion initiatives in Solomon Islands.
Key Facts
- Solomon Islands has a population of approximately 700,000 people.
- In 2020, there were over 60,000 persons borrowing from commercial banks in the country.
- Access to formal financial services remains a challenge, with only around 30% of the adult population holding a bank account.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of persons in Solomon Islands who are borrowing from commercial banks, providing insight into the level of financial inclusion and access to credit in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for economists and policymakers seeking to understand the depth of financial intermediation and identify opportunities to expand access to formal financial services in Solomon Islands.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Solomon Islands through surveys of commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: This trend is used to inform financial inclusion initiatives and policies aimed at increasing access to credit and formal financial services in Solomon Islands.
Q: Are there update delays or limitations?
A: The data is published regularly by the Central Bank of Solomon Islands, but there may be some delays in reporting due to the survey-based methodology.
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Citation
U.S. Federal Reserve, Use of Financial Services Borrowers: Persons Borrowing from Commercial Banks for Solomon Islands (SLBFCRODCPENUM), retrieved from FRED.