Use of Financial Services, Mobile Banking: Number of Mobile Money Transactions (during the Reference Year) for Liberia
LBRFCMTNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
474,456,327.67
Year-over-Year Change
42575.95%
Date Range
1/1/2012 - 1/1/2023
Summary
The 'Use of Financial Services, Mobile Banking: Number of Mobile Money Transactions (during the Reference Year) for Liberia' metric tracks the total number of mobile money transactions occurring in Liberia during a given year. This indicator provides insights into the adoption and utilization of digital financial services within the Liberian 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
This data series measures the volume of mobile money transactions in Liberia, which is a key indicator of financial inclusion and the development of digital payment infrastructure. It is used by economists, policymakers, and financial institutions to assess the growth of mobile banking and the broader transition towards a cashless society in the country.
Methodology
The data is collected by the Central Bank of Liberia through surveys of mobile money service providers operating in the country.
Historical Context
This metric is relevant for understanding financial sector development and the impact of policies aimed at promoting digital financial inclusion in Liberia.
Key Facts
- Liberia had over 1 million mobile money accounts as of 2020.
- Mobile money transactions in Liberia grew by 40% between 2018 and 2019.
- Over 60% of the Liberian population uses mobile money services.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of mobile money transactions that occur in Liberia during a given year. It provides insights into the adoption and usage of digital financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the development of digital financial infrastructure and financial inclusion in Liberia. It is used by economists, policymakers, and financial institutions to assess progress and inform policy decisions.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Liberia through surveys of mobile money service providers operating in the country.
Q: How is this trend used in economic policy?
A: This trend is used to monitor the impact of policies and initiatives aimed at promoting digital financial inclusion and the transition towards a cashless economy in Liberia.
Q: Are there update delays or limitations?
A: The data may be subject to delays in reporting and can be influenced by the coverage and accuracy of mobile money service provider surveys.
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Citation
U.S. Federal Reserve, Use of Financial Services, Mobile Banking: Number of Mobile Money Transactions (during the Reference Year) for Liberia (LBRFCMTNUM), retrieved from FRED.