Use of Financial Services: Key Indicators, Depositors with Commercial Banks Per 1000 Adults for Philippines
PHLFCDODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
973.15
Year-over-Year Change
123.59%
Date Range
1/1/2008 - 1/1/2023
Summary
This economic trend measures the number of depositors with commercial banks per 1,000 adults in the Philippines. It is a key indicator of financial inclusion and access to banking services.
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, Depositors with Commercial Banks Per 1000 Adults for Philippines data series tracks the level of financial inclusion in the country by measuring the number of deposit account holders per 1,000 adults. This metric provides insight into the accessibility and usage of basic banking services.
Methodology
The data is collected by the World Bank from national central bank and financial regulatory authority sources.
Historical Context
This indicator is used by policymakers and analysts to assess progress towards financial inclusion goals and identify opportunities to expand access to banking services.
Key Facts
- The number of depositors per 1,000 adults in the Philippines was 798.56 in 2020.
- Financial inclusion has increased in the Philippines in recent years, but access to formal banking services remains a challenge.
- Expanding financial inclusion is a key policy priority for the Philippine government to support economic growth and poverty reduction.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of adults in the Philippines who hold deposit accounts with commercial banks, expressed per 1,000 adults.
Q: Why is this trend relevant for users or analysts?
A: The depositors per 1,000 adults metric is a key indicator of financial inclusion and access to basic banking services in the Philippines. It helps policymakers and economists assess progress towards financial development goals.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank from national central bank and financial regulatory authority sources in the Philippines.
Q: How is this trend used in economic policy?
A: This indicator is used by the Philippine government and international organizations to monitor and inform policies aimed at expanding financial inclusion and access to banking services.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so there may be a 1-2 year delay in the most recent figures being available.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Depositors with Commercial Banks Per 1000 Adults for Philippines (PHLFCDODCANUM), retrieved from FRED.