Use of Financial Services: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for Liberia
LBRFCAODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
304.07
Year-over-Year Change
92.16%
Date Range
1/1/2008 - 1/1/2023
Summary
This economic trend measures the number of deposit accounts with commercial banks per 1,000 adults in Liberia. It provides insights into financial inclusion and access to basic 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 'Use of Financial Services: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for Liberia' series tracks the ratio of deposit accounts to the adult population in Liberia. This metric is used to assess financial inclusion and the degree to which the general population has access to formal banking services.
Methodology
The data is collected by the World Bank through national financial sector surveys and regulatory authorities.
Historical Context
This trend is relevant for policymakers and analysts evaluating financial development and economic progress in Liberia.
Key Facts
- Liberia had 237 deposit accounts per 1,000 adults in 2017.
- Financial inclusion has increased in Liberia in recent decades.
- Access to banking services remains a challenge for many Liberians.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of deposit accounts with commercial banks per 1,000 adults in Liberia. It provides an indicator of financial inclusion and access to basic banking services in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers, development economists, and analysts interested in evaluating financial sector development and economic progress in Liberia.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank through national financial sector surveys and regulatory authorities.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and institutions to assess financial inclusion and access to banking services, which are key drivers of economic development in Liberia.
Q: Are there update delays or limitations?
A: The data may have some update delays due to the time required for national surveys and reporting. Additionally, the metric may not capture all informal financial services in Liberia.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for Liberia (LBRFCAODCANUM), retrieved from FRED.