Use of Financial Services: Key Indicators, Outstanding Deposits with Credit Unions and Financial Cooperatives for Mozambique
MOZFCLODUGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.23
Year-over-Year Change
6.97%
Date Range
1/1/2004 - 1/1/2023
Summary
This trend measures the outstanding deposits with credit unions and financial cooperatives in Mozambique as a percentage of GDP. It provides insight into the level of financial inclusion and access to formal 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 Use of Financial Services: Key Indicators, Outstanding Deposits with Credit Unions and Financial Cooperatives for Mozambique series tracks the total value of deposits held with credit unions and financial cooperatives in the country. This metric is used to assess the depth of financial intermediation and the role of non-bank financial institutions in Mozambique's financial system.
Methodology
The data is collected and calculated by the International Monetary Fund (IMF).
Historical Context
This indicator is used by policymakers and economists to evaluate financial sector development and monitor progress towards financial inclusion goals.
Key Facts
- Credit unions and cooperatives hold 3.3% of Mozambique's GDP in deposits.
- Mozambique's financial inclusion rate is 59%, according to the World Bank.
- The government aims to increase financial inclusion to 75% by 2024.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding deposits held with credit unions and financial cooperatives in Mozambique as a percentage of the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the level of financial inclusion and the role of non-bank financial institutions in Mozambique's financial system, which is relevant for policymakers and economists evaluating financial sector development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the International Monetary Fund (IMF).
Q: How is this trend used in economic policy?
A: This indicator is used by policymakers and economists to evaluate financial sector development and monitor progress towards financial inclusion goals in Mozambique.
Q: Are there update delays or limitations?
A: The data is subject to the reporting and publication schedule of the IMF, which may result in occasional delays or updates.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Credit Unions and Financial Cooperatives for Mozambique (MOZFCLODUGGDPPT), retrieved from FRED.