People 15 Years and Over Saving at a Financial Institution in the Past Year for Ecuador
DDAI06ECA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13.10
Year-over-Year Change
-9.72%
Date Range
1/1/2011 - 1/1/2021
Summary
This economic trend measures the percentage of people aged 15 and older in Ecuador who have saved money at a financial institution in the past year. It provides insights into the savings behavior and financial inclusion of the Ecuadorian population.
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 Ecuador' metric is an important indicator of financial development and access to formal banking services. It reflects the degree to which the adult population in Ecuador utilizes regulated savings channels as opposed to informal methods.
Methodology
The data is collected through household surveys conducted by the World Bank as part of the Global Findex database.
Historical Context
This trend is relevant for policymakers and analysts evaluating financial inclusion and the effectiveness of programs aimed at promoting greater savings among the Ecuadorian population.
Key Facts
- The savings rate at financial institutions in Ecuador was 23.4% in 2017.
- Ecuador's savings rate has increased by 5 percentage points since 2011.
- Women in Ecuador are less likely to save at financial institutions than men.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of people aged 15 and older in Ecuador who have saved money at a financial institution in the past year.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the financial inclusion and savings behavior of the Ecuadorian population, which is important for evaluating the effectiveness of policies and programs aimed at promoting greater financial access and savings.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the World Bank as part of the Global Findex database.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and analysts to assess the level of financial inclusion and the effectiveness of policies and programs aimed at promoting greater savings among the Ecuadorian population.
Q: Are there update delays or limitations?
A: The data is updated every three years as part of the Global Findex survey, so there may be a delay in the most recent data being available.
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Citation
U.S. Federal Reserve, People 15 Years and Over Saving at a Financial Institution in the Past Year for Ecuador (DDAI06ECA156NWDB), retrieved from FRED.