Use of Financial Services Deposit Accounts: Small and Medium Enterprise Accounts at Commercial Banks for Madagascar
MDGFCAODCSNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
91,809.00
Year-over-Year Change
113.25%
Date Range
1/1/2004 - 1/1/2022
Summary
This economic trend measures the use of deposit accounts by small and medium enterprises (SMEs) at commercial banks in Madagascar. It provides insights into the level of financial inclusion and access to banking services for the country's SME sector.
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 Deposit Accounts: Small and Medium Enterprise Accounts at Commercial Banks for Madagascar series tracks the number of deposit accounts held by SMEs at commercial banks in the country. This metric is a key indicator of financial inclusion and the ability of small businesses to access formal banking services.
Methodology
The data is collected by the Central Bank of Madagascar through surveys of commercial banks operating in the country.
Historical Context
Policymakers and economists use this trend to assess the development of Madagascar's financial sector and the degree of SME integration into the formal banking system.
Key Facts
- Madagascar has a population of over 27 million people.
- The SME sector accounts for over 90% of businesses in Madagascar.
- Only 17% of Malagasy adults have a bank account.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of deposit accounts held by small and medium enterprises (SMEs) at commercial banks in Madagascar. It provides insights into financial inclusion and access to banking services for the country's SME sector.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the development of Madagascar's financial sector and the degree to which small businesses are integrated into the formal banking system. It is a key indicator of financial inclusion and access to capital for the SME sector.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Madagascar through surveys of commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the state of financial inclusion in Madagascar and inform policies aimed at expanding access to banking services for small businesses.
Q: Are there update delays or limitations?
A: The data may have a delay of several months before being published, and the survey coverage of commercial banks may not be comprehensive.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Small and Medium Enterprise Accounts at Commercial Banks for Madagascar (MDGFCAODCSNUM), retrieved from FRED.