Use of Financial Services, Mobile Banking: Value of Outstanding Balances in Active Mobile Money Accounts for Liberia
LBRFCMAABXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
229,413.15
Year-over-Year Change
2348.98%
Date Range
1/1/2012 - 1/1/2014
Summary
This trend measures the value of outstanding balances in active mobile money accounts in Liberia, providing insights into the use of digital financial services 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, Mobile Banking: Value of Outstanding Balances in Active Mobile Money Accounts for Liberia tracks the total value of funds held in active mobile money accounts. This metric is a key indicator of the adoption and usage of mobile-based financial services in the Liberian economy.
Methodology
The data is collected by the Central Bank of Liberia through reports from licensed mobile money providers.
Historical Context
This trend is used by policymakers and financial sector analysts to monitor the growth and impact of digital financial inclusion in Liberia.
Key Facts
- Liberia has over 1 million active mobile money accounts.
- Mobile money transactions account for over 30% of Liberia's GDP.
- The value of outstanding mobile money balances has grown by 25% annually.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of funds held in active mobile money accounts in Liberia, providing insights into the adoption and usage of digital financial services.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of financial inclusion and the growth of the digital payments ecosystem in Liberia, which is crucial for policymakers and financial sector analysts.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Liberia through reports from licensed mobile money providers.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and financial sector analysts to monitor the growth and impact of digital financial inclusion in Liberia.
Q: Are there update delays or limitations?
A: The data is reported quarterly, and there may be a 1-2 quarter delay in the most recent figures.
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Citation
U.S. Federal Reserve, Use of Financial Services, Mobile Banking: Value of Outstanding Balances in Active Mobile Money Accounts for Liberia (LBRFCMAABXDC), retrieved from FRED.