Use of Financial Services: Key Indicators, Loan Accounts with Commercial Banks Per 1,000 Adults for Gambia, The
GMBFCNODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
47.01
Year-over-Year Change
40.33%
Date Range
1/1/2004 - 1/1/2023
Summary
This trend measures the number of loan accounts with commercial banks per 1,000 adults in Gambia, The. It provides insight into the level of 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 Use of Financial Services: Key Indicators, Loan Accounts with Commercial Banks Per 1,000 Adults for Gambia, The series tracks the availability and usage of formal banking services. This metric is important for understanding financial development and assessing progress towards universal financial access.
Methodology
The data is collected through financial institution surveys and census information.
Historical Context
Policymakers use this indicator to evaluate financial inclusion policies and monitor access to credit in the Gambian economy.
Key Facts
- Gambia, The had 233 loan accounts per 1,000 adults in 2021.
- Financial inclusion is a key development priority in Gambia, The.
- Access to credit remains limited compared to other African countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of loan accounts held with commercial banks per 1,000 adults in Gambia, The. It provides an indicator of financial inclusion and access to formal credit in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding financial development and progress towards universal financial access, which is a key policy objective in many developing economies.
Q: How is this data collected or calculated?
A: The data is collected through financial institution surveys and census information.
Q: How is this trend used in economic policy?
A: Policymakers use this indicator to evaluate financial inclusion policies and monitor access to credit in the Gambian economy.
Q: Are there update delays or limitations?
A: The data may have some delays in reporting and may not fully capture informal financial services.
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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 Gambia, The (GMBFCNODCANUM), retrieved from FRED.