Use of Financial Services Borrowers: Persons Borrowing from Commercial Banks for Madagascar
MDGFCRODCPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,580,790.00
Year-over-Year Change
890.34%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the use of financial services by borrowers in Madagascar, specifically the number of persons borrowing from commercial banks. Understanding this data is important for economists and policymakers to assess the state of financial inclusion and access to credit 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 Borrowers: Persons Borrowing from Commercial Banks for Madagascar' series tracks the total number of individuals who have outstanding loans with commercial banks in Madagascar. This metric provides insight into the level of financial intermediation and access to formal credit channels within the Malagasy economy.
Methodology
The data is collected through surveys and reports from commercial banks operating in Madagascar.
Historical Context
This trend is used by economists, policymakers, and financial institutions to monitor financial sector development and identify opportunities to expand access to credit and banking services.
Key Facts
- Madagascar has a population of over 28 million as of 2022.
- Only 17% of adults in Madagascar have a bank account.
- Access to credit remains a major challenge for many Malagasy households and businesses.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of individuals in Madagascar who have outstanding loans with commercial banks, providing insight into financial inclusion and access to formal credit channels.
Q: Why is this trend relevant for users or analysts?
A: This data is important for understanding the state of financial intermediation and assessing opportunities to expand access to banking and credit services in Madagascar.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reports from commercial banks operating in Madagascar.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and financial institutions use this trend to monitor financial sector development and identify ways to improve financial inclusion and access to credit in the Malagasy economy.
Q: Are there update delays or limitations?
A: The data may be subject to periodic updates and potential reporting lags from commercial banks in Madagascar.
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Citation
U.S. Federal Reserve, Use of Financial Services Borrowers: Persons Borrowing from Commercial Banks for Madagascar (MDGFCRODCPENUM), retrieved from FRED.