Use of Financial Services: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for El Salvador
SLVFCAODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,052.79
Year-over-Year Change
46.84%
Date Range
1/1/2009 - 1/1/2023
Summary
This economic trend tracks the number of deposit accounts with commercial banks per 1,000 adults in El Salvador, providing insights into financial inclusion and access to formal banking services.
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 El Salvador' metric measures the level of access to basic banking services across the adult population in El Salvador. This data point is used by economists and policymakers to evaluate financial inclusion and the reach of the formal banking system.
Methodology
The data is collected by the World Bank from national central bank and statistical agency sources.
Historical Context
This metric is relevant for assessing the development of El Salvador's financial sector and guiding policies to promote greater access to banking services.
Key Facts
- El Salvador had 496 deposit accounts per 1,000 adults in 2020.
- This represents a 44% increase from 2010 levels.
- Financial inclusion remains a key challenge in El Salvador's economic development.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of deposit accounts held with commercial banks per 1,000 adults in El Salvador, providing insight into financial inclusion and access to basic banking services.
Q: Why is this trend relevant for users or analysts?
A: This metric is used by economists and policymakers to evaluate the development of El Salvador's financial sector and guide policies to promote greater access to banking services for the population.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank from El Salvador's central bank and statistical agency sources.
Q: How is this trend used in economic policy?
A: This indicator is relevant for assessing financial inclusion and guiding policies to improve access to formal banking services in El Salvador.
Q: Are there update delays or limitations?
A: The data is published annually, and there may be some delays in reporting from national sources.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for El Salvador (SLVFCAODCANUM), retrieved from FRED.