Use of Financial Services: Key Indicators, Loan Accounts with Commercial Banks Per 1,000 Adults for Dominican Republic
DOMFCNODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
641.33
Year-over-Year Change
131.65%
Date Range
1/1/2006 - 1/1/2023
Summary
This economic indicator tracks the number of loan accounts with commercial banks per 1,000 adults in the Dominican Republic, providing insight into the use of 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
The 'Use of Financial Services: Key Indicators, Loan Accounts with Commercial Banks Per 1,000 Adults for Dominican Republic' series measures the accessibility and utilization of banking services by the adult population in the Dominican Republic. This metric is used by economists and policymakers to assess financial inclusion and the development of the country's banking sector.
Methodology
The data is collected by the World Bank through surveys and national-level reporting.
Historical Context
This indicator is relevant for evaluating financial sector policies and their impact on household access to credit.
Key Facts
- The number of loan accounts per 1,000 adults in the Dominican Republic was 342.4 in 2021.
- Financial inclusion has been a key policy focus in the Dominican Republic in recent years.
- Access to credit and banking services varies across socioeconomic groups in the country.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the number of loan accounts with commercial banks per 1,000 adults in the Dominican Republic, providing insights into the use of financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is used by economists and policymakers to assess financial inclusion and the development of the Dominican Republic's banking sector, which is crucial for economic growth and household access to credit.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank through surveys and national-level reporting.
Q: How is this trend used in economic policy?
A: This indicator is relevant for evaluating financial sector policies and their impact on household access to credit in the Dominican Republic.
Q: Are there update delays or limitations?
A: The data is subject to the reporting schedules and methodologies of the World Bank, which may result in periodic update delays or limitations in coverage.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Loan Accounts with Commercial Banks Per 1,000 Adults for Dominican Republic (DOMFCNODCANUM), retrieved from FRED.