Use of Financial Services: Key Indicators, Loan Accounts with Commercial Banks Per 1,000 Adults for Comoros
COMFCNODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.09
Year-over-Year Change
144.15%
Date Range
1/1/2010 - 1/1/2023
Summary
This economic trend measures the number of loan accounts with commercial banks per 1,000 adults in Comoros, providing insights into the use of 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: Key Indicators, Loan Accounts with Commercial Banks Per 1,000 Adults for Comoros' series tracks the penetration of formal banking services in Comoros. It is a key indicator of financial inclusion and economic development.
Methodology
The data is collected through surveys and administrative records by the central bank and national statistical agencies.
Historical Context
This metric is used by policymakers, economists, and development organizations to assess the accessibility and usage of financial products in Comoros.
Key Facts
- Comoros has one of the lowest rates of financial inclusion in the world.
- Access to formal banking services is a key challenge for economic growth in Comoros.
- Improving financial inclusion is a priority for the Comorian government and international development organizations.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of loan accounts per 1,000 adults with commercial banks in Comoros, providing insight into the level of access to formal financial services.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding financial inclusion and economic development in Comoros, as access to formal banking services is a key driver of economic growth and poverty reduction.
Q: How is this data collected or calculated?
A: The data is collected through surveys and administrative records by the central bank and national statistical agencies in Comoros.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and development organizations use this metric to assess the accessibility and usage of financial products in Comoros, informing policies and initiatives aimed at improving financial inclusion.
Q: Are there update delays or limitations?
A: There may be delays in data reporting and potential challenges in data collection, as financial inclusion remains a significant challenge in Comoros.
Related Trends
Use of Financial Services: Key Indicators, Small and Medium Enterprises (SME) Loan Accounts with Commercial Banks (% of Non-financial Corporation Depositors with Commercial Banks) for Comoros
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Use of Financial Services Borrowers: Persons Borrowing from Commercial Banks for Comoros
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Inflation, consumer prices for Comoros
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Consumer Prices: All Items for Comoros
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Use of Financial Services, Assets: Outstanding Loans at Deposit Taking Microfinance Institutions (MFIs) for Comoros
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Consumer Prices at End of Period for Comoros
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Loan Accounts with Commercial Banks Per 1,000 Adults for Comoros (COMFCNODCANUM), retrieved from FRED.