Use of Financial Services Borrowers: Persons Borrowing from Commercial Banks for Kiribati
KIRFCRODCPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,962.00
Year-over-Year Change
81.67%
Date Range
1/1/2011 - 1/1/2013
Summary
This economic trend measures the number of persons borrowing from commercial banks in Kiribati. It provides insights into the utilization of financial services and access to credit in the Kiribati economy.
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 Commercial Banks for Kiribati' series tracks the total number of individuals who have outstanding loans or credit from commercial banks operating in Kiribati. This metric is used to gauge financial inclusion and the depth of the domestic credit market.
Methodology
The data is collected through surveys and reports from commercial banks in Kiribati.
Historical Context
Policymakers and analysts use this trend to monitor financial sector development and identify opportunities to expand access to credit and banking services.
Key Facts
- Kiribati is a Pacific island nation with a population of around 119,000.
- The domestic credit provided by the banking sector in Kiribati is equivalent to approximately 20% of its GDP.
- Access to formal financial services remains limited in many rural and remote areas of Kiribati.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of individuals in Kiribati who have outstanding loans or credit from commercial banks operating in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial inclusion and the depth of the domestic credit market in Kiribati, which is crucial for understanding the country's economic development and identifying opportunities for expanding access to financial services.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reports from commercial banks operating in Kiribati.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to monitor financial sector development and formulate policies to improve access to credit and banking services, particularly in underserved rural and remote areas of Kiribati.
Q: Are there update delays or limitations?
A: The data may be subject to periodic updates and potential delays in reporting, as it relies on information gathered from commercial banks in Kiribati.
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Citation
U.S. Federal Reserve, Use of Financial Services Borrowers: Persons Borrowing from Commercial Banks for Kiribati (KIRFCRODCPENUM), retrieved from FRED.