People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Senegal
DDAI07SNA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.97
Year-over-Year Change
184.67%
Date Range
1/1/2011 - 1/1/2021
Summary
This economic trend measures the percentage of people aged 15 and older in Senegal who have borrowed from a financial institution in the past year. It provides insight into financial inclusion and access to credit within the Senegalese 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 Borrowing from a Financial Institution in the Past Year' trend tracks the level of financial services usage in Senegal. It is an important indicator of economic development and the effectiveness of financial policies aimed at improving access to credit and banking.
Methodology
The data is collected through household surveys conducted by the World Bank.
Historical Context
This trend is used by policymakers, economists, and financial institutions to assess financial inclusion and guide policies to promote access to credit and banking services.
Key Facts
- Senegal's financial inclusion rate was 42% in 2017.
- The government has set a target of 75% financial inclusion by 2024.
- Access to credit is a key barrier to economic growth in Senegal.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of people aged 15 and older in Senegal who have borrowed from a financial institution in the past year.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into financial inclusion and access to credit within the Senegalese population, which are important indicators of economic development and the effectiveness of financial policies.
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: This trend is used by policymakers, economists, and financial institutions to assess financial inclusion and guide policies to promote access to credit and banking services in Senegal.
Q: Are there update delays or limitations?
A: The data is updated periodically by the World Bank, but there may be delays in reporting and potential limitations in survey coverage or methodology.
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Citation
U.S. Federal Reserve, People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Senegal (DDAI07SNA156NWDB), retrieved from FRED.