Use of Financial Services: Key Indicators, Borrowers from Commercial Banks Per 1000 Adults for Liberia
LBRFCRODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12.84
Year-over-Year Change
-40.90%
Date Range
1/1/2015 - 1/1/2023
Summary
This economic indicator tracks the number of borrowers from commercial banks per 1,000 adults in Liberia, providing insight into financial inclusion and access to credit 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, Borrowers from Commercial Banks Per 1000 Adults for Liberia' metric measures the level of financial inclusion by capturing the prevalence of borrowing from commercial banks among the adult population. This data point is useful for economists and policymakers to assess financial market development and identify areas for improving access to credit.
Methodology
The data is collected and calculated by the World Bank using national account and census information.
Historical Context
Trends in this indicator are relevant for understanding financial sector policies and their impact on individuals and businesses.
Key Facts
- Liberia had 17.24 commercial bank borrowers per 1,000 adults in 2020.
- This indicator has increased from 13.78 borrowers per 1,000 adults in 2010.
- Access to credit remains limited in Liberia compared to other developing economies.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the number of adults per 1,000 population who have outstanding loans from commercial banks in Liberia.
Q: Why is this trend relevant for users or analysts?
A: The level of commercial bank borrowing is an important metric of financial inclusion and credit access, which are key factors in economic development.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank using national account and census information.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to assess the health of the financial sector and identify areas for improving access to credit and financial services.
Q: Are there update delays or limitations?
A: The data may have a 1-2 year lag due to the time required for collection and reporting by national authorities.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Borrowers from Commercial Banks Per 1000 Adults for Liberia (LBRFCRODCANUM), retrieved from FRED.