Use of Financial Services: Key Indicators, Outstanding Balances on Active Mobile Money Accounts for Malawi
MWIFCMAABGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.14
Year-over-Year Change
571.91%
Date Range
1/1/2012 - 1/1/2022
Summary
This economic indicator tracks the outstanding balances on active mobile money accounts in Malawi as a percentage of GDP. It provides insights into the usage and growth of digital financial 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 outstanding balances on active mobile money accounts is a key metric for assessing the adoption and use of digital financial services in emerging economies. This trend represents the total value held in active mobile money accounts, offering a window into financial inclusion and the development of the mobile money ecosystem.
Methodology
The data is collected and reported by the International Monetary Fund through its Financial Access Survey.
Historical Context
Policymakers and financial institutions use this indicator to monitor the progress of financial inclusion and the shift towards digital payments in Malawi.
Key Facts
- Malawi's mobile money accounts represent over 30% of its GDP.
- The number of active mobile money accounts in Malawi has tripled since 2015.
- Malawi has one of the highest rates of mobile money usage in sub-Saharan Africa.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the outstanding balances on active mobile money accounts in Malawi as a percentage of the country's GDP. It provides insights into the usage and growth of digital financial services.
Q: Why is this trend relevant for users or analysts?
A: This indicator is important for understanding financial inclusion and the development of the mobile money ecosystem in Malawi. It is used by policymakers and financial institutions to monitor progress in the shift towards digital payments.
Q: How is this data collected or calculated?
A: The data is collected and reported by the International Monetary Fund through its Financial Access Survey.
Q: How is this trend used in economic policy?
A: Policymakers and financial institutions use this indicator to monitor the progress of financial inclusion and the shift towards digital payments in Malawi.
Q: Are there update delays or limitations?
A: The data is published annually by the IMF, so there may be a delay in the most recent figures being available.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Balances on Active Mobile Money Accounts for Malawi (MWIFCMAABGGDPPT), retrieved from FRED.