People 15 Years and Over with Account at a Formal Financial Institution for Jamaica
DDAI05JMA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
72.67
Year-over-Year Change
2.36%
Date Range
1/1/2011 - 1/1/2021
Summary
This economic trend measures the percentage of Jamaican adults aged 15 and older who have an account at a formal financial institution, such as a bank or credit union. It provides insight into financial inclusion and access to the formal banking system.
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 People 15 Years and Over with Account at a Formal Financial Institution for Jamaica statistic tracks the share of the adult population that utilizes formal financial services. This metric is important for policymakers and economists evaluating financial development and assessing progress toward greater financial inclusion.
Methodology
The data is collected through nationally representative household surveys.
Historical Context
This trend is used to monitor financial sector development and inform policies aimed at expanding access to banking and other formal financial services.
Key Facts
- Jamaica's account ownership rate was 79% in 2017.
- Financial inclusion has increased significantly in Jamaica over the past decade.
- Expanding access to formal financial services is a key development priority.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of the Jamaican adult population (ages 15 and older) that has an account at a formal financial institution, such as a bank or credit union.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into financial inclusion and access to the formal banking system, which are important indicators of economic development and financial sector progress.
Q: How is this data collected or calculated?
A: The data is collected through nationally representative household surveys.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and economists to monitor financial sector development and inform policies aimed at expanding access to banking and other formal financial services.
Q: Are there update delays or limitations?
A: The data is updated periodically by the World Bank, with the latest available year depending on when the most recent household survey was conducted.
Related Trends
Value of Exports to Jamaica from Arizona
AZJAMA052SCEN
Number of Identified Exporters to Jamaica from Arkansas
ARJAMA475SCEN
Geographical Outreach: Number of Branches, Excluding Headquarters, for Commercial Banks for Jamaica
JAMFCBODCNUM
Net Issues of International Debt Securities for Issuers in General Government Sector, All Maturities, Residence of Issuer in Jamaica
IDSGAMRINIJM
Gross Portfolio Equity Liabilities to GDP for Jamaica
DDDM08JMA156NWDB
Value of Exports to Jamaica from California
CAJAMA052SCEN
Citation
U.S. Federal Reserve, People 15 Years and Over with Account at a Formal Financial Institution for Jamaica (DDAI05JMA156NWDB), retrieved from FRED.