Use of Financial Services: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for Congo
CODFCAODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
74.13
Year-over-Year Change
523.71%
Date Range
1/1/2009 - 1/1/2018
Summary
This economic trend measures the number of deposit accounts with commercial banks per 1,000 adults in the Republic of the Congo. It provides insights into financial inclusion and the use of banking services by the general population.
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 Commercial Banks Per 1000 Adults for Congo' series tracks the accessibility and utilization of basic banking services in the Republic of the Congo. This metric is a key indicator of financial inclusion and can inform policymakers and analysts about trends in the adoption of formal financial products.
Methodology
The data is collected and reported by the World Bank, based on information provided by central banks and national statistical agencies.
Historical Context
This indicator is relevant for assessing financial development and access to banking services, which are crucial factors for economic growth and poverty reduction.
Key Facts
- The Republic of the Congo had 144 deposit accounts per 1,000 adults in 2017.
- Financial inclusion has been a policy priority in the Congo in recent years.
- Access to banking services remains low compared to other African countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of deposit accounts with commercial banks per 1,000 adults in the Republic of the Congo, providing insights into financial inclusion and the use of banking services.
Q: Why is this trend relevant for users or analysts?
A: This indicator is crucial for assessing financial development and access to banking services, which are important factors for economic growth and poverty reduction.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank, based on information provided by central banks and national statistical agencies.
Q: How is this trend used in economic policy?
A: This indicator is relevant for policymakers and analysts to understand trends in the adoption of formal financial products and inform policies aimed at improving financial inclusion.
Q: Are there update delays or limitations?
A: The data may have some delays in reporting and may not capture all informal financial activity in the country.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for Congo (CODFCAODCANUM), retrieved from FRED.