Use of Financial Services: Number of Loan Accounts at Commercial Banks for Gambia, The
GMBFCNODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
74,853.00
Year-over-Year Change
106.06%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of loan accounts at commercial banks in Gambia. It provides insights 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: Number of Loan Accounts at Commercial Banks for Gambia, The series tracks the total number of loan accounts held by individuals and businesses at commercial banks operating in Gambia. This metric is an important indicator of financial sector development and the degree to which the population can access formal credit channels.
Methodology
The data is collected by the Central Bank of Gambia through reports from commercial banks.
Historical Context
Policymakers and economists use this trend to monitor financial inclusion and assess the effectiveness of initiatives to expand access to credit.
Key Facts
- Gambia has a population of over 2.4 million people.
- The number of loan accounts in Gambia grew by 15% between 2018 and 2020.
- Access to credit remains a key challenge for small businesses in Gambia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of loan accounts held by individuals and businesses at commercial banks operating in Gambia. It provides insights into financial inclusion and access to credit in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important indicator of financial sector development and the degree to which the population in Gambia can access formal credit channels, which is crucial for economic growth and poverty reduction.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Gambia through reports from commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to monitor financial inclusion and assess the effectiveness of initiatives to expand access to credit, which is a key driver of economic development in Gambia.
Q: Are there update delays or limitations?
A: The data is published with a few months' delay, and the coverage may not include all financial institutions in Gambia.
Related Trends
Gross National Income for Gambia
MKTGNIGMA646NWDB
Use of Financial Services, Liabilities: Outstanding Deposits at Deposit Taking Microfinance Institutions (MFIs) for Gambia, The
GMBFCLODMFXDC
Geographical Outreach: Number of Commercial Banks for Gambia, The
GMBFCIODCNUM
Liquid Liabilities (Broad Money) for Gambia
DDOI07GMA648NWDB
Number of Identified Exporters to Gambia from Arkansas
ARGMBA475SCEN
Value of Exports to Gambia from New Jersey
NJGMBA052SCEN
Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts at Commercial Banks for Gambia, The (GMBFCNODCNUM), retrieved from FRED.