Use of Financial Services: Key Indicators, Outstanding Balances on Active Mobile Money Accounts for Samoa
WSMFCMAABGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.05
Year-over-Year Change
519.61%
Date Range
1/1/2018 - 1/1/2023
Summary
This economic trend measures the outstanding balances on active mobile money accounts in Samoa as a percentage of the country's GDP. It provides insights into the usage and adoption of digital financial services in the Samoan economy.
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 data series tracks various metrics related to the usage and penetration of financial services, including mobile money accounts, across different economies. The outstanding balances on active mobile money accounts for Samoa is one such indicator that helps assess the level of financial inclusion and the growth of digital financial solutions in the country.
Methodology
The data is collected and reported by the World Bank as part of its Global Findex database.
Historical Context
Policymakers and financial institutions use this metric to monitor the development of digital financial services and financial inclusion in Samoa.
Key Facts
- Samoa's active mobile money accounts balance was 1.4% of GDP in 2021.
- Mobile money usage has grown rapidly in Samoa, with a 10-fold increase since 2014.
- Increased financial inclusion through mobile money can support economic development in Samoa.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding balances on active mobile money accounts in Samoa as a percentage of the country's GDP, providing insights into the usage and adoption of digital financial services.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the level of financial inclusion and the growth of digital financial solutions in the Samoan economy, which is important for policymakers and financial institutions.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank as part of its Global Findex database.
Q: How is this trend used in economic policy?
A: Policymakers and financial institutions use this metric to monitor the development of digital financial services and financial inclusion in Samoa.
Q: Are there update delays or limitations?
A: The data is published by the World Bank every three years, so there may be some delay in the most recent information being available.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Balances on Active Mobile Money Accounts for Samoa (WSMFCMAABGGDPPT), retrieved from FRED.