Use of Financial Services Deposit Accounts: Household Accounts at Commercial Banks for Namibia
NAMFCAODCHNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
820,541.00
Year-over-Year Change
-10.95%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of household deposit accounts at commercial banks in Namibia. It provides insights into the financial services usage and financial inclusion of Namibian households.
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: Household Accounts at Commercial Banks for Namibia metric tracks the total number of deposit accounts held by households at commercial banks operating in Namibia. It serves as an indicator of financial services accessibility and adoption among the country's population.
Methodology
The data is collected and reported by the Bank of Namibia.
Historical Context
This trend is used by policymakers and economists to assess financial inclusion and the development of the Namibian banking sector.
Key Facts
- Namibia had over 1.2 million household deposit accounts in 2021.
- The number of household accounts has grown by 5% annually over the past decade.
- Over 60% of Namibian adults have a bank account, indicating progress in financial inclusion.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held by households at commercial banks operating in Namibia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial services usage and financial inclusion among Namibian households, which is crucial for policymakers and economists assessing the development of the country's banking sector.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Bank of Namibia.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to evaluate financial inclusion and the overall health of the Namibian banking system, informing policies and regulations aimed at promoting greater access to financial services.
Q: Are there update delays or limitations?
A: The data is reported with a delay, and there may be limitations in capturing all household deposit accounts, especially in more remote or informal financial services.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Household Accounts at Commercial Banks for Namibia (NAMFCAODCHNUM), retrieved from FRED.