People 15 Years and Over with Account at a Formal Financial Institution for Madagascar
DDAI05MGA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.57
Year-over-Year Change
73.26%
Date Range
1/1/2011 - 1/1/2017
Summary
This economic trend measures the percentage of people aged 15 and older in Madagascar who have an account at a formal financial institution. It provides insight into financial inclusion and access to 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 'People 15 Years and Over with Account at a Formal Financial Institution for Madagascar' metric tracks the share of the adult population in Madagascar that utilizes formal banking services. This data point is a key indicator of financial development and economic well-being in the country.
Methodology
The data is collected through household surveys conducted by the World Bank.
Historical Context
This metric is widely used by economists, policymakers, and development organizations to evaluate financial inclusion initiatives and guide policies aimed at expanding access to banking services.
Key Facts
- Madagascar's formal financial institution account ownership rate was 17.2% in 2017.
- Financial inclusion has increased in Madagascar over the past decade.
- Expanding access to banking services is a key policy priority in the country.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of people aged 15 and older in Madagascar who have an account at a formal financial institution, such as a bank, credit union, or microfinance institution.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the level of financial inclusion and access to banking services in Madagascar, which is an important indicator of economic development and financial stability.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the World Bank.
Q: How is this trend used in economic policy?
A: Policymakers and development organizations use this metric to evaluate financial inclusion initiatives and guide policies aimed at expanding access to banking services in Madagascar.
Q: Are there update delays or limitations?
A: The data is typically published with a delay of a few years, and may not capture the most recent changes in financial inclusion in Madagascar.
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Citation
U.S. Federal Reserve, People 15 Years and Over with Account at a Formal Financial Institution for Madagascar (DDAI05MGA156NWDB), retrieved from FRED.