Use of Financial Services, Mobile Banking: Registered Number of Mobile Money Accounts for Tonga
TONFCMARNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
46,511.00
Year-over-Year Change
476.27%
Date Range
1/1/2011 - 1/1/2018
Summary
The 'Use of Financial Services, Mobile Banking: Registered Number of Mobile Money Accounts for Tonga' series tracks the total number of mobile money accounts registered in Tonga. This metric provides insight into the adoption and utilization of digital financial 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
This series measures the total number of mobile money accounts that have been registered in Tonga. It is an important indicator of the growth and penetration of digital financial inclusion in the country, which has implications for economic development and financial access.
Methodology
The data is collected by the World Bank through surveys of financial service providers in Tonga.
Historical Context
Policymakers and economists use this data to assess the progress of financial digitization and mobile money adoption in Tonga.
Key Facts
- Tonga has a total population of around 105,000 people.
- Mobile money accounts in Tonga grew from 24,000 in 2014 to over 70,000 in 2020.
- Tonga's mobile money adoption rate is among the highest in the Pacific region.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of mobile money accounts that have been registered in Tonga. It is an indicator of digital financial inclusion and the adoption of mobile banking services.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers, economists, and analysts as it provides insight into the progress of financial digitization and mobile money adoption in Tonga, which has implications for economic development and financial access.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank through surveys of financial service providers in Tonga.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess the progress of financial digitization and mobile money adoption in Tonga, which can inform policies and initiatives aimed at promoting financial inclusion and economic development.
Q: Are there update delays or limitations?
A: The data may be subject to update delays, as it is collected through surveys, and there may be limitations in terms of the completeness or accuracy of the reporting by financial service providers.
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Citation
U.S. Federal Reserve, Use of Financial Services, Mobile Banking: Registered Number of Mobile Money Accounts for Tonga (TONFCMARNUM), retrieved from FRED.