Use of Financial Services: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for Madagascar
MDGFCAODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
783.22
Year-over-Year Change
1396.42%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of deposit accounts with commercial banks per 1,000 adults in Madagascar, providing insights into financial inclusion 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 'Use of Financial Services: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for Madagascar' tracks the level of financial inclusion by measuring the average number of deposit accounts held at commercial banks per 1,000 adults in the country. This metric is used by economists and policymakers to assess the accessibility and adoption of basic banking services.
Methodology
The data is collected and reported by the World Bank based on surveys and national statistics.
Historical Context
This indicator is relevant for understanding financial development and access to the formal banking system in Madagascar.
Key Facts
- Madagascar had 302 deposit accounts per 1,000 adults in 2017.
- Financial inclusion has been a policy priority in Madagascar to expand access to banking.
- The number of deposit accounts per capita is a key indicator of financial development.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of deposit accounts held at commercial banks per 1,000 adults in Madagascar, providing insights into financial inclusion and access to basic banking services.
Q: Why is this trend relevant for users or analysts?
A: This indicator is important for understanding the level of financial development and access to the formal banking system in Madagascar, which is crucial for economic growth and poverty reduction.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank based on surveys and national statistics.
Q: How is this trend used in economic policy?
A: This indicator is used by economists and policymakers to assess the accessibility and adoption of basic banking services, which is a key policy priority for promoting financial inclusion and economic development in Madagascar.
Q: Are there update delays or limitations?
A: The data may have some update delays, as it relies on national surveys and statistics, but it provides a valuable long-term perspective on financial inclusion trends in Madagascar.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for Madagascar (MDGFCAODCANUM), retrieved from FRED.