People 15 Years and Over Saving at a Financial Institution in the Past Year for Sri Lanka
DDAI06LKA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.91
Year-over-Year Change
20.73%
Date Range
1/1/2011 - 1/1/2021
Summary
This economic trend measures the percentage of the population aged 15 and older in Sri Lanka who reported saving at a financial institution in the past year. It provides insight into the savings behavior and financial inclusion of the adult 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' statistic is a key indicator of financial access and utilization in Sri Lanka. It reflects the degree to which the working-age population is participating in the formal banking system and engaging in long-term savings.
Methodology
This data is collected through household surveys conducted by the World Bank.
Historical Context
Policymakers and economists use this metric to evaluate financial sector development and design initiatives to promote greater financial inclusion.
Key Facts
- The most recent value for this trend is 31.36% (2017).
- Sri Lanka's savings rate is lower than the global average of 38.5%.
- Financial inclusion is a key priority for Sri Lanka's economic policymakers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of the adult population in Sri Lanka who reported saving at a formal financial institution in the past year.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the level of financial inclusion and access to savings instruments in Sri Lanka, which is an important factor for economic development and household financial security.
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: Policymakers and economists use this indicator to evaluate financial sector development and design policies to promote greater financial inclusion in Sri Lanka.
Q: Are there update delays or limitations?
A: The data is updated periodically by the World Bank, with the most recent value available for 2017.
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Citation
U.S. Federal Reserve, People 15 Years and Over Saving at a Financial Institution in the Past Year for Sri Lanka (DDAI06LKA156NWDB), retrieved from FRED.