Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Bolivia
BOLFCAODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,265,644.00
Year-over-Year Change
368.58%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of deposit accounts at commercial banks in Bolivia. It is an important indicator of financial inclusion and the level of formal banking activity 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 Deposit Accounts: Accounts at Commercial Banks for Bolivia series tracks the total number of deposit accounts held at commercial banks within the Bolivian financial system. This metric provides insight into the breadth of access to formal banking services among the population.
Methodology
The data is collected by the Central Bank of Bolivia and reported through the International Monetary Fund's Financial Access Survey.
Historical Context
Policymakers and analysts use this trend to assess progress in financial inclusion and the development of Bolivia's banking sector.
Key Facts
- Bolivia had over 4.3 million deposit accounts at commercial banks as of the latest data.
- The number of deposit accounts has grown by over 50% in the past decade.
- Bolivia's financial inclusion rate remains below the regional average for Latin America.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held at commercial banks in Bolivia. It provides insight into the level of access to formal banking services in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important indicator of financial inclusion and can help policymakers and economists assess the development of Bolivia's banking sector and progress towards greater financial access.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Bolivia and reported through the IMF's Financial Access Survey.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to monitor financial inclusion efforts and the performance of Bolivia's banking industry. It informs policies aimed at expanding access to formal financial services.
Q: Are there update delays or limitations?
A: The data is published with some delay, typically 6-12 months after the reference period. Additionally, the metric may not capture all informal banking activity in Bolivia.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Bolivia (BOLFCAODCNUM), retrieved from FRED.