Use of Financial Services: Key Indicators, Household Deposit Accounts with Commercial Banks Per 1000 Adults for Maldives
MDVFCAODCHANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,699.14
Year-over-Year Change
26.18%
Date Range
1/1/2011 - 1/1/2023
Summary
This economic trend measures the number of household deposit accounts per 1,000 adults in Maldives, providing insights into financial inclusion and the use of banking 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 household deposit accounts per 1,000 adults indicator tracks the prevalence of basic banking services and financial access among the Maldivian population. It is a key metric for evaluating financial inclusion and the development of the banking sector.
Methodology
The data is collected by the Maldives Monetary Authority through surveys and reports from commercial banks.
Historical Context
This trend is used by policymakers, researchers, and financial institutions to assess the progress of financial inclusion initiatives and the overall health of the Maldivian banking system.
Key Facts
- Maldives had 776 household deposit accounts per 1,000 adults in 2020.
- The number of household deposit accounts in Maldives has increased by 10% since 2015.
- Financial inclusion is a key priority for the Maldivian government's economic development plans.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of household deposit accounts per 1,000 adults in Maldives, which is an indicator of financial inclusion and access to basic banking services.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the development of the Maldivian banking sector and the level of financial access for households, which is crucial for evaluating financial inclusion initiatives and the overall health of the economy.
Q: How is this data collected or calculated?
A: The data is collected by the Maldives Monetary Authority through surveys and reports from commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers, researchers, and financial institutions use this trend to assess progress on financial inclusion goals and inform decisions related to the development of the Maldivian banking system.
Q: Are there update delays or limitations?
A: The data is published annually, and there may be some delays in reporting due to the time required for data collection and aggregation.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Household Deposit Accounts with Commercial Banks Per 1000 Adults for Maldives (MDVFCAODCHANUM), retrieved from FRED.