Use of Financial Services, Mobile Banking: Value of Outstanding Balances in Active Mobile Money Accounts for Samoa
WSMFCMAABXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,395,000.00
Year-over-Year Change
601.01%
Date Range
1/1/2018 - 1/1/2023
Summary
This economic trend tracks the value of outstanding balances in active mobile money accounts in Samoa, providing insights into the use of financial services and adoption of mobile banking 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, Mobile Banking: Value of Outstanding Balances in Active Mobile Money Accounts for Samoa series measures the total value of funds held in active mobile money accounts, serving as an indicator of financial inclusion and the penetration of digital financial services in Samoa.
Methodology
The data is collected and reported by the World Bank as part of its Global Financial Inclusion (Global Findex) Database.
Historical Context
This trend is relevant for policymakers and financial institutions seeking to understand the growth and use of mobile money services in Samoa.
Key Facts
- Samoa's mobile money account ownership rate was 45% in 2021.
- The value of outstanding balances in active mobile money accounts in Samoa was $31.9 million in 2021.
- Mobile money has become a key driver of financial inclusion in Samoa.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of funds held in active mobile money accounts in Samoa, providing insights into the adoption and use of digital financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding financial inclusion and the growth of mobile banking in Samoa, which is crucial for policymakers and financial institutions seeking to expand access to digital financial services.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank as part of its Global Financial Inclusion (Global Findex) Database.
Q: How is this trend used in economic policy?
A: Policymakers and financial institutions use this trend to monitor the adoption and usage of mobile money services, which can inform strategies to promote financial inclusion and the development of digital financial ecosystems.
Q: Are there update delays or limitations?
A: The Global Findex Database, which includes this data series, is updated every three years, so there may be a delay in the availability of the most recent data.
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Citation
U.S. Federal Reserve, Use of Financial Services, Mobile Banking: Value of Outstanding Balances in Active Mobile Money Accounts for Samoa (WSMFCMAABXDC), retrieved from FRED.