Firms with a Bank Loan or Line of Credit to Total Firms for Nigeria
DDAI03NGA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11.40
Year-over-Year Change
200.00%
Date Range
1/1/2007 - 1/1/2014
Summary
This economic trend measures the percentage of firms in Nigeria that have a bank loan or line of credit. It provides insights into the accessibility of business financing 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 'Firms with a Bank Loan or Line of Credit to Total Firms' indicator represents the share of enterprises in Nigeria that have access to formal financial services from banks. This metric is used by economists and policymakers to assess the development of the country's financial sector and identify barriers to business credit.
Methodology
The data is collected through enterprise surveys conducted by the World Bank.
Historical Context
This indicator is relevant for understanding financial inclusion and the business environment in Nigeria.
Key Facts
- Nigeria's firms with bank loan rate was 13.4% in 2014.
- The rate has remained below 20% since 2006.
- Access to finance is a major constraint for businesses in Nigeria.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the percentage of firms in Nigeria that have a bank loan or line of credit, providing insights into the accessibility of business financing in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is used by economists and policymakers to assess the development of Nigeria's financial sector and identify barriers to business credit, which is crucial for understanding the country's economic environment.
Q: How is this data collected or calculated?
A: The data is collected through enterprise surveys conducted by the World Bank.
Q: How is this trend used in economic policy?
A: This indicator is relevant for understanding financial inclusion and the business environment in Nigeria, which can inform policies aimed at improving access to finance and supporting private sector development.
Q: Are there update delays or limitations?
A: The data is published with a lag, and the frequency of updates may vary, depending on the timing of the World Bank's enterprise surveys in Nigeria.
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Citation
U.S. Federal Reserve, Firms with a Bank Loan or Line of Credit to Total Firms for Nigeria (DDAI03NGA156NWDB), retrieved from FRED.