People 15 Years and Over Saving at a Financial Institution in the Past Year for Benin
DDAI06BJA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.15
Year-over-Year Change
-26.65%
Date Range
1/1/2011 - 1/1/2021
Summary
This economic trend tracks the percentage of people aged 15 and older in Benin who report saving money at a financial institution in the past year. It provides insights into the country's financial inclusion and household savings behavior.
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 Saving at a Financial Institution in the Past Year for Benin' metric is a key indicator of financial access and usage in the country. It helps economists and policymakers understand the level of formal savings among the adult population.
Methodology
The data is collected through household surveys conducted by the World Bank.
Historical Context
This trend is used to benchmark Benin's financial development and guide policies aimed at promoting greater financial inclusion.
Key Facts
- Benin's adult financial institution savings rate was 21.7% in 2017.
- The trend has increased from 16.5% in 2011 to 21.7% in 2017.
- Benin's savings rate lags the regional average for Sub-Saharan Africa.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the percentage of people aged 15 and older in Benin who report saving money at a financial institution in the past year.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial inclusion and household savings behavior in Benin, which is important for understanding the country's economic development.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the World Bank.
Q: How is this trend used in economic policy?
A: This trend is used to benchmark Benin's financial development and guide policies aimed at promoting greater financial inclusion.
Q: Are there update delays or limitations?
A: The data is published with a lag, and survey coverage may not be comprehensive across all regions of Benin.
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Citation
U.S. Federal Reserve, People 15 Years and Over Saving at a Financial Institution in the Past Year for Benin (DDAI06BJA156NWDB), retrieved from FRED.