Number of Bank Accounts for Rwanda
DDAI01RWA642NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
285.49
Year-over-Year Change
48.21%
Date Range
1/1/2004 - 1/1/2020
Summary
The 'Number of Bank Accounts for Rwanda' trend measures the total number of deposit accounts held by individuals and businesses in Rwandan banks. This metric is an important indicator of financial inclusion and economic development 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 series represents the total number of deposit accounts at commercial banks and other depository institutions in Rwanda. It is a key statistic used by economists and policymakers to assess the level of access to and usage of formal banking services by the Rwandan population.
Methodology
The data is collected by the World Bank from the National Bank of Rwanda and other regulatory authorities.
Historical Context
Trends in Rwandan bank account numbers provide insight into the effectiveness of financial inclusion initiatives and the overall health of the country's banking sector.
Key Facts
- Rwanda had over 3.8 million bank accounts as of 2021.
- The number of bank accounts in Rwanda has grown by over 700% since 2005.
- About 36% of Rwandan adults had a bank account as of 2021.
FAQs
Q: What does this economic trend measure?
A: The 'Number of Bank Accounts for Rwanda' trend measures the total number of deposit accounts held by individuals and businesses in Rwandan banks.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of financial inclusion and economic development in Rwanda, providing insight into the population's access to and usage of formal banking services.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank from the National Bank of Rwanda and other regulatory authorities.
Q: How is this trend used in economic policy?
A: Trends in Rwandan bank account numbers are used by economists and policymakers to assess the effectiveness of financial inclusion initiatives and the overall health of the country's banking sector.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so there may be a delay in reflecting the most recent changes in the Rwandan banking system.
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Citation
U.S. Federal Reserve, Number of Bank Accounts for Rwanda (DDAI01RWA642NWDB), retrieved from FRED.