Use of Financial Services, Mobile Banking: Number of Mobile Money Transactions (during the Reference Year) for Madagascar
MDGFCMTNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
726,600,830.00
Year-over-Year Change
1574640.10%
Date Range
1/1/2010 - 1/1/2022
Summary
This economic trend measures the number of mobile money transactions in Madagascar during a given reference year. It provides insights into the adoption and usage of digital 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, Mobile Banking: Number of Mobile Money Transactions (during the Reference Year) for Madagascar metric tracks the volume of mobile-based financial transactions, such as payments, transfers, and other services, within the Malagasy economy. This data is used by economists and policymakers to assess the progress of financial inclusion and the development of the digital finance ecosystem.
Methodology
The data is collected by the Malagasy central bank and other financial authorities through reports from mobile money service providers.
Historical Context
This trend is relevant for understanding the growth of the digital finance industry and its impact on financial inclusion and economic development in Madagascar.
Key Facts
- Madagascar has one of the highest mobile money account ownership rates in Africa.
- The number of mobile money transactions in Madagascar has grown significantly in recent years.
- Mobile money services are used for a wide range of financial activities, including payments, transfers, and savings.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of mobile money transactions, such as payments and transfers, made in Madagascar during a given reference year.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the adoption and usage of digital financial services in Madagascar, which is important for understanding financial inclusion and the development of the country's digital economy.
Q: How is this data collected or calculated?
A: The data is collected by the Malagasy central bank and other financial authorities through reports from mobile money service providers.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the progress of financial inclusion and the development of the digital finance ecosystem in Madagascar.
Q: Are there update delays or limitations?
A: The data may be subject to periodic updates and can be affected by changes in reporting from mobile money service providers.
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Citation
U.S. Federal Reserve, Use of Financial Services, Mobile Banking: Number of Mobile Money Transactions (during the Reference Year) for Madagascar (MDGFCMTNUM), retrieved from FRED.