Geographical Outreach: Number of Commercial Banks for Lao People's Democratic Republic
LAOFCIODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34.00
Year-over-Year Change
36.00%
Date Range
1/1/2008 - 1/1/2023
Summary
This economic trend tracks the number of commercial banks operating in Lao People's Democratic Republic (Laos), providing insights into the country's financial infrastructure and access to banking services.
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 number of commercial banks in Laos is an important indicator of the breadth and depth of the country's financial system. It reflects the availability and distribution of banking services, which is crucial for economic development, investment, and financial inclusion.
Methodology
The data is collected and reported by the Bank of the Lao PDR, the central banking authority.
Historical Context
Policymakers and economists use this trend to assess the financial landscape and identify areas for improving banking access and financial services.
Key Facts
- Laos had 24 commercial banks in 2021.
- The number of commercial banks in Laos has steadily increased since 2010.
- Access to banking services is a key priority for economic growth in Laos.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of commercial banks operating in Lao People's Democratic Republic (Laos), providing insights into the country's financial infrastructure and access to banking services.
Q: Why is this trend relevant for users or analysts?
A: The number of commercial banks in Laos is an important indicator of the breadth and depth of the country's financial system, which is crucial for economic development, investment, and financial inclusion.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Bank of the Lao PDR, the central banking authority.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the financial landscape and identify areas for improving banking access and financial services in Laos.
Q: Are there update delays or limitations?
A: The data is reported by the central bank and may be subject to some update delays, but it provides a reliable and transparent view of the commercial banking landscape in Laos.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Commercial Banks for Lao People's Democratic Republic (LAOFCIODCNUM), retrieved from FRED.