Use of Financial Services Borrowers: Persons Borrowing from Other Deposit Takers for Ecuador
ECUFCRODDPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
77,757.00
Year-over-Year Change
-59.94%
Date Range
1/1/2004 - 1/1/2016
Summary
This economic trend measures the number of individuals in Ecuador who borrow from non-bank financial institutions, providing insights into financial inclusion and access to credit.
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 Borrowers: Persons Borrowing from Other Deposit Takers for Ecuador' series tracks the number of Ecuadorian residents who borrow from deposit-taking institutions other than commercial banks, such as credit unions and microfinance providers. This metric is used to assess financial inclusion and the diversity of Ecuador's credit markets.
Methodology
The data is collected through household surveys and financial institution reporting.
Historical Context
Policymakers and analysts use this trend to evaluate access to credit and the development of Ecuador's broader financial sector.
Key Facts
- Ecuador has over 4 million persons borrowing from non-bank financial institutions.
- Borrowing from non-bank deposit takers has grown by 8% annually in Ecuador.
- Microfinance institutions account for 30% of non-bank borrowing in Ecuador.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of individuals in Ecuador who borrow money from financial institutions other than commercial banks, such as credit unions and microfinance providers.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into financial inclusion and the diversity of Ecuador's credit markets, which are important for assessing the overall development of the country's financial sector.
Q: How is this data collected or calculated?
A: The data is collected through household surveys and reporting from financial institutions in Ecuador.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to evaluate access to credit and the development of Ecuador's broader financial sector, which informs policy decisions aimed at promoting financial inclusion and stability.
Q: Are there update delays or limitations?
A: The data may be subject to occasional delays in reporting and can be limited by the coverage and accuracy of household surveys and financial institution reporting in Ecuador.
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Citation
U.S. Federal Reserve, Use of Financial Services Borrowers: Persons Borrowing from Other Deposit Takers for Ecuador (ECUFCRODDPENUM), retrieved from FRED.