Number of Bank Accounts for Papua New Guinea
DDAI01PGA642NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
177.92
Year-over-Year Change
19.32%
Date Range
1/1/2006 - 1/1/2009
Summary
The 'Number of Bank Accounts for Papua New Guinea' series tracks the total number of bank account holders in Papua New Guinea. This metric is a key indicator of financial inclusion and access to banking 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
This World Bank series represents the total number of Papuan adults who hold a bank account, regardless of account type. It provides insights into the level of financial development and participation in the formal banking system within Papua New Guinea.
Methodology
The data is collected through household and individual surveys conducted by the World Bank.
Historical Context
This metric is used by policymakers, economists, and development organizations to assess financial inclusion and banking sector growth in Papua New Guinea.
Key Facts
- Papua New Guinea had over 1.7 million bank account holders as of the latest data.
- The number of bank accounts in Papua New Guinea has grown by over 50% in the past decade.
- Only about 30% of the adult population in Papua New Guinea holds a bank account.
FAQs
Q: What does this economic trend measure?
A: This series tracks the total number of bank account holders in Papua New Guinea, providing insights into financial inclusion and access to banking services in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for assessing the level of financial development and participation in the formal banking system within Papua New Guinea, which is crucial for economic growth and poverty reduction.
Q: How is this data collected or calculated?
A: The data is collected through household and individual surveys conducted by the World Bank.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and development organizations use this metric to evaluate financial inclusion and guide policies aimed at expanding access to banking services in Papua New Guinea.
Q: Are there update delays or limitations?
A: The data is published annually, with a delay of approximately 1-2 years, and may not capture all informal banking activity in Papua New Guinea.
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Citation
U.S. Federal Reserve, Number of Bank Accounts for Papua New Guinea (DDAI01PGA642NWDB), retrieved from FRED.