Use of Financial Services: Key Indicators, Loan Accounts with Commercial Banks Per 1,000 Adults for Ecuador
ECUFCNODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
176.28
Year-over-Year Change
-40.96%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of loan accounts with commercial banks per 1,000 adults in Ecuador, providing insights into financial service usage and access.
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 'Use of Financial Services: Key Indicators, Loan Accounts with Commercial Banks Per 1,000 Adults for Ecuador' series tracks the ratio of loan accounts to the adult population, offering a gauge of financial inclusion and the depth of commercial banking services in the country.
Methodology
The data is collected and calculated by the World Bank using national account and census information.
Historical Context
This metric is used by policymakers and analysts to assess financial sector development and financial access in Ecuador.
Key Facts
- Ecuador's loan accounts per 1,000 adults was 579.2 in 2021.
- This metric has steadily increased over the past decade.
- Access to commercial banking services remains a key priority for economic policymakers in Ecuador.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of loan accounts with commercial banks per 1,000 adults in Ecuador, providing insights into financial service usage and access.
Q: Why is this trend relevant for users or analysts?
A: This metric is used to assess financial inclusion and the depth of commercial banking services in Ecuador, which is a key indicator of economic development and financial sector growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national account and census information.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers and analysts to evaluate financial sector development and financial access in Ecuador, informing policies aimed at promoting financial inclusion and economic growth.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with a potential delay of up to 2 years.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Loan Accounts with Commercial Banks Per 1,000 Adults for Ecuador (ECUFCNODCANUM), retrieved from FRED.