People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Iraq
DDAI07IQA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.63
Year-over-Year Change
-54.41%
Date Range
1/1/2011 - 1/1/2021
Summary
This trend measures the percentage of people aged 15 and over in Iraq who have borrowed from a financial institution in the past year. It provides insights into access to formal credit and financial inclusion within the Iraqi economy.
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 Borrowing from a Financial Institution in the Past Year' indicator tracks the use of formal financial services in Iraq. It is an important metric for evaluating financial development and assessing progress towards greater financial inclusion.
Methodology
The data is collected through household surveys conducted by the World Bank.
Historical Context
This indicator is used by policymakers and economists to monitor financial sector development and design programs to improve access to credit and banking services.
Key Facts
- Iraq's borrowing rate was 11.7% in 2017.
- Borrowing from financial institutions is more common in urban areas of Iraq.
- Women in Iraq have lower rates of borrowing from formal institutions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of people aged 15 and over in Iraq who have borrowed from a financial institution in the past year.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into financial inclusion and access to credit within the Iraqi economy, which are important factors for economic development and growth.
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 monitor financial sector development and design programs to improve access to credit and banking services.
Q: Are there update delays or limitations?
A: The data may be subject to survey collection and reporting delays, and may not capture all informal borrowing activities.
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Citation
U.S. Federal Reserve, People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Iraq (DDAI07IQA156NWDB), retrieved from FRED.