People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Mozambique
DDAI07MZA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10.27
Year-over-Year Change
-6.87%
Date Range
1/1/2017 - 1/1/2021
Summary
This economic trend tracks the percentage of people aged 15 and over in Mozambique who have borrowed from a financial institution in the past year. It provides insight into financial inclusion and access to credit in the country.
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' metric represents the share of the adult population in Mozambique that has utilized formal banking or lending services over the prior 12 months. This data point is useful for analyzing financial development and the degree to which the public can access credit from regulated institutions.
Methodology
The data is collected through household surveys by the World Bank.
Historical Context
This trend is relevant for policymakers and financial sector analysts assessing financial inclusion and access to credit in Mozambique.
Key Facts
- Mozambique's borrowing rate from financial institutions was 10.4% in 2017.
- Credit access has increased in Mozambique over the past decade.
- Financial inclusion remains a challenge in many developing economies.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the percentage of adults aged 15 and over in Mozambique who have borrowed from a formal financial institution, such as a bank or microfinance provider, in the past year.
Q: Why is this trend relevant for users or analysts?
A: This data point is useful for assessing financial inclusion and access to credit in Mozambique, which are important indicators of economic development and financial sector health.
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 financial sector analysts use this metric to evaluate progress on financial inclusion goals and inform policies aimed at expanding access to credit and banking services.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not be available for the most recent years. The survey-based methodology also has inherent limitations in capturing the informal financial sector.
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Citation
U.S. Federal Reserve, People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Mozambique (DDAI07MZA156NWDB), retrieved from FRED.