Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Mozambique
MOZFCAODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,687,975.00
Year-over-Year Change
167.53%
Date Range
1/1/2005 - 1/1/2023
Summary
This trend measures the total number of deposit accounts at commercial banks in Mozambique. It is an important indicator of financial inclusion and the development of the banking sector 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 deposit accounts at commercial banks is a key measure of how individuals and businesses are accessing formal financial services. This data provides insights into the level of financial intermediation and the growth of the banking system in Mozambique.
Methodology
The data is collected and reported by the Central Bank of Mozambique.
Historical Context
Policymakers and analysts use this trend to assess progress toward financial inclusion and the deepening of the financial sector.
Key Facts
- Mozambique had over 4 million deposit accounts at commercial banks as of 2020.
- The number of deposit accounts has grown by over 50% since 2015.
- Increasing financial inclusion is a key policy goal for the Mozambican government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held at commercial banks in Mozambique. It provides an indicator of financial inclusion and the development of the banking sector.
Q: Why is this trend relevant for users or analysts?
A: The level of deposit account usage is an important metric for assessing financial sector deepening and progress toward greater financial inclusion in Mozambique.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Mozambique.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to monitor the growth of the formal banking system and evaluate efforts to expand financial inclusion in Mozambique.
Q: Are there update delays or limitations?
A: The data is published with a short lag, typically a few months after the end of each reporting period.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Mozambique (MOZFCAODCNUM), retrieved from FRED.