Use of Financial Services: Number of Loan Accounts at Credit Unions and Financial Cooperatives for Burundi
BDIFCNODUNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
281,505.00
Year-over-Year Change
725.89%
Date Range
1/1/2007 - 1/1/2020
Summary
This economic trend measures the number of loan accounts at credit unions and financial cooperatives in Burundi. It provides insights into the usage and access to 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: Number of Loan Accounts at Credit Unions and Financial Cooperatives for Burundi' series tracks the total number of loan accounts held at credit unions and financial cooperatives in Burundi. This metric is used to assess the level of financial inclusion and the penetration of formal financial services within the country.
Methodology
The data is collected by the Burundi central bank through surveys of credit unions and financial cooperatives.
Historical Context
This trend is relevant for policymakers and financial institutions seeking to understand financial sector development and access to credit in Burundi.
Key Facts
- Burundi has over 300 registered credit unions and financial cooperatives.
- Loan accounts at these institutions grew by 8% annually from 2015 to 2020.
- Access to formal credit remains low, with only 6% of adults holding a loan from a financial institution.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of loan accounts held at credit unions and financial cooperatives in Burundi.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial inclusion and access to formal credit within Burundi's economy.
Q: How is this data collected or calculated?
A: The data is collected by the Burundi central bank through surveys of credit unions and financial cooperatives.
Q: How is this trend used in economic policy?
A: Policymakers and financial institutions use this trend to understand financial sector development and access to credit in Burundi.
Q: Are there update delays or limitations?
A: The data is published with a 6-month lag and may not capture all informal lending activity.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts at Credit Unions and Financial Cooperatives for Burundi (BDIFCNODUNUM), retrieved from FRED.