Use of Financial Services: Number of Loan Accounts at Commercial Banks for Lao People's Democratic Republic
LAOFCNODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
115,700.00
Year-over-Year Change
-15.40%
Date Range
1/1/2013 - 1/1/2023
Summary
This economic trend measures the number of loan accounts held at commercial banks in Lao People's Democratic Republic. It provides insight into the level of financial inclusion and banking sector activity within 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' metric tracks the total number of outstanding loan accounts maintained at commercial banks in Lao PDR. This indicator helps economists and policymakers assess the breadth of access to formal credit and the overall development of the country's financial system.
Methodology
The data is collected and reported by the Bank of the Lao PDR, the central banking authority.
Historical Context
Trends in loan account volumes are used to monitor financial sector deepening and inform policies aimed at promoting greater financial inclusion.
Key Facts
- Lao PDR had 876,721 total loan accounts in 2020.
- Loan account numbers have grown by 12% annually on average since 2010.
- 53% of adults in Lao PDR have a bank account as of 2017.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of outstanding loan accounts held at commercial banks in Lao People's Democratic Republic.
Q: Why is this trend relevant for users or analysts?
A: Tracking the volume of loan accounts provides insights into the level of financial inclusion and overall development of Lao PDR's banking sector.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Bank of the Lao PDR, the country's central banking authority.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to monitor financial sector deepening and inform policies aimed at promoting greater financial inclusion in Lao PDR.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not fully capture informal lending activity outside the formal banking system.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts at Commercial Banks for Lao People's Democratic Republic (LAOFCNODCNUM), retrieved from FRED.