People 15 Years and Over Saving at a Financial Institution in the Past Year for Mozambique
DDAI06MZA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10.88
Year-over-Year Change
0.72%
Date Range
1/1/2017 - 1/1/2021
Summary
This economic trend measures the percentage of the Mozambican population aged 15 and over who reported saving money at a financial institution within the past year. It provides insight into the financial inclusion and savings habits of the country's 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 an important indicator of financial development and access to formal banking services in Mozambique. It is commonly used by economists and policymakers to assess progress towards financial inclusion goals and identify areas for improvement.
Methodology
This data is collected through household surveys conducted by the World Bank as part of the Global Findex database.
Historical Context
Trends in financial inclusion are closely monitored by international organizations, governments, and financial institutions to inform policies and programs aimed at expanding access to banking and savings services.
Key Facts
- Mozambique's adult financial inclusion rate was 43% in 2021.
- Savings at financial institutions in Mozambique are more common among men than women.
- Access to formal banking services is lower in rural areas of Mozambique compared to urban centers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of the adult population in Mozambique, aged 15 and over, who reported saving money at a financial institution within the past year.
Q: Why is this trend relevant for users or analysts?
A: This statistic provides insight into the level of financial inclusion and access to formal banking services in Mozambique, which is a key indicator of economic development and financial sector progress.
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: Trends in financial inclusion are closely monitored by policymakers, governments, and international organizations to inform policies and programs aimed at expanding access to banking and savings services.
Q: Are there update delays or limitations?
A: The Global Findex data is published every three years, so there may be a delay in the most recent available information for this trend.
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Citation
U.S. Federal Reserve, People 15 Years and Over Saving at a Financial Institution in the Past Year for Mozambique (DDAI06MZA156NWDB), retrieved from FRED.