Geographical Outreach: Number of Institutions, Other Financial Intermediaries, Non-deposit Taking Microfinance Institutions (MFIs) for Nicaragua
NICFCIOFMFNNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
64.00
Year-over-Year Change
220.00%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of other financial intermediaries and non-deposit taking microfinance institutions (MFIs) in Nicaragua. It provides insight into the geographical reach and growth of the country's financial services sector.
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 Geographical Outreach: Number of Institutions, Other Financial Intermediaries, Non-deposit Taking Microfinance Institutions (MFIs) for Nicaragua series tracks the count of these types of financial service providers operating in the country. This metric is used by economists and policymakers to assess financial inclusion and the development of Nicaragua's microfinance industry.
Methodology
The data is collected through surveys and reporting from financial sector regulators.
Historical Context
Trends in this metric can inform financial sector policies and microfinance initiatives aimed at expanding access to credit and other services.
Key Facts
- The number of non-deposit taking MFIs in Nicaragua has grown from 34 in 2005 to 59 in 2020.
- Other financial intermediaries account for the largest share of institutions, reaching 251 in 2020.
- Financial inclusion remains a challenge, with only 29% of adults having a bank account as of 2017.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of other financial intermediaries and non-deposit taking microfinance institutions (MFIs) operating in Nicaragua.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the growth and geographical reach of Nicaragua's financial services sector, which is relevant for assessing financial inclusion and the development of the microfinance industry.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reporting from financial sector regulators in Nicaragua.
Q: How is this trend used in economic policy?
A: Trends in this metric can inform financial sector policies and microfinance initiatives aimed at expanding access to credit and other services in Nicaragua.
Q: Are there update delays or limitations?
A: The data may have delays in reporting and may not capture all informal or unregistered financial service providers.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Institutions, Other Financial Intermediaries, Non-deposit Taking Microfinance Institutions (MFIs) for Nicaragua (NICFCIOFMFNNUM), retrieved from FRED.