Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Tonga
TONFCAODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
89,019.00
Year-over-Year Change
100.01%
Date Range
1/1/2007 - 1/1/2018
Summary
This economic trend measures the number of deposit accounts at commercial banks in Tonga. It provides insight into the level of financial inclusion and the utilization of 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 Deposit Accounts: Accounts at Commercial Banks for Tonga statistic tracks the total number of deposit accounts held at commercial banks in Tonga. This metric is used to assess the breadth of financial inclusion and the degree to which the population is actively participating in the formal banking system.
Methodology
The data is collected by the Central Bank of Tonga through surveys of commercial banks operating in the country.
Historical Context
This trend is used by policymakers, economists, and financial analysts to monitor the development of Tonga's financial sector and identify opportunities for improving access to banking services.
Key Facts
- Tonga has a population of around 105,000 people.
- The number of deposit accounts at commercial banks in Tonga was 101,077 as of the latest data.
- Increasing financial inclusion is a key priority for the government of Tonga.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held at commercial banks in Tonga. It provides insight into the level of financial inclusion and banking participation in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the development of Tonga's financial sector and the degree to which the population is actively using banking services, which is an important indicator of economic and social progress.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Tonga through surveys of commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and financial analysts use this trend to monitor the financial inclusion landscape in Tonga and identify opportunities to improve access to banking services.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be limitations in terms of coverage or consistency across different commercial banks in Tonga.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Tonga (TONFCAODCNUM), retrieved from FRED.