Use of Financial Services: Key Indicators, Household Depositors with Commercial Banks Per 1000 Adults for Madagascar
MDGFCDODCHANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
305.09
Year-over-Year Change
868.15%
Date Range
1/1/2004 - 1/1/2022
Summary
This economic trend measures the number of household depositors with commercial banks per 1,000 adults in Madagascar. It provides insights into financial inclusion and the use of formal banking services by the population.
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, Household Depositors with Commercial Banks Per 1000 Adults for Madagascar' statistic tracks the level of engagement with the formal banking sector among Malagasy households. It is a key metric for evaluating financial access and the degree of financial inclusion in the country.
Methodology
The data is collected through surveys and reported by the World Bank.
Historical Context
This indicator is closely monitored by policymakers and economists to assess the development of Madagascar's financial system and progress towards broader financial inclusion.
Key Facts
- Madagascar had 286 household depositors per 1,000 adults in 2017.
- Financial inclusion in Madagascar lags behind the regional average for Sub-Saharan Africa.
- Increasing access to formal banking services is a key policy goal for the Malagasy government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of households in Madagascar that have deposits with commercial banks, per 1,000 adults in the population.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the level of financial inclusion and access to formal banking services in Madagascar, which is an important factor in the country's economic development.
Q: How is this data collected or calculated?
A: The data is collected through household surveys and reported by the World Bank.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to monitor progress towards increasing financial inclusion and the development of Madagascar's financial system.
Q: Are there update delays or limitations?
A: The data is published with some delay, and may not be available for the most recent years.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Household Depositors with Commercial Banks Per 1000 Adults for Madagascar (MDGFCDODCHANUM), retrieved from FRED.