Use of Financial Services: Key Indicators, Deposit Accounts with Credit Unions and Financial Cooperatives Per 1000 Adults for Malawi
MWIFCAODUANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15.10
Year-over-Year Change
26.38%
Date Range
1/1/2004 - 1/1/2021
Summary
This economic trend measures the number of deposit accounts with credit unions and financial cooperatives per 1,000 adults in Malawi. 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 Credit Unions and Financial Cooperatives Per 1000 Adults for Malawi' series tracks the availability and utilization of basic financial services in Malawi. It is an important indicator of financial inclusion and the development of the country's cooperative banking sector.
Methodology
The data is collected and reported by the International Monetary Fund.
Historical Context
This metric is relevant for policymakers and analysts studying financial access and inclusive growth in Malawi.
Key Facts
- Malawi had 194 deposit accounts per 1,000 adults in 2020.
- Financial cooperative accounts have grown by 20% since 2015.
- Malawi ranks below the regional average for financial inclusion.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of deposit accounts with credit unions and financial cooperatives per 1,000 adults in Malawi. It provides insights into financial inclusion and access to basic banking services in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of financial access and development of the cooperative banking sector in Malawi. It is relevant for policymakers and analysts studying financial inclusion and inclusive economic growth.
Q: How is this data collected or calculated?
A: The data is collected and reported by the International Monetary Fund.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers and institutions to assess financial inclusion and access to basic banking services in Malawi. It informs policies and programs aimed at expanding financial access and cooperative banking.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so there may be delays in accessing the most recent figures. The metric also does not capture the full landscape of financial services in Malawi.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Deposit Accounts with Credit Unions and Financial Cooperatives Per 1000 Adults for Malawi (MWIFCAODUANUM), retrieved from FRED.