Use of Financial Services: Number of Loan Accounts at Commercial Banks for Saudi Arabia
SAUFCNODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,379,806.00
Year-over-Year Change
149.06%
Date Range
1/1/2009 - 1/1/2023
Summary
This economic trend measures the number of loan accounts at commercial banks in Saudi Arabia, providing insights into the use of financial services and credit access within 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: Number of Loan Accounts at Commercial Banks for Saudi Arabia trend represents the total number of outstanding loan accounts held by individuals and businesses at commercial banks operating in Saudi Arabia. This metric is an important indicator of credit market activity and financial inclusion within the Saudi economy.
Methodology
The data is collected by the Saudi Arabian Monetary Authority (SAMA) through surveys of commercial banks operating in the country.
Historical Context
Policymakers and economists use this trend to assess the development of Saudi Arabia's financial system and credit markets.
Key Facts
- Saudi Arabia had over 10 million loan accounts at commercial banks as of the latest data.
- The number of loan accounts has grown by 25% over the past 5 years.
- Expanded access to credit is a key component of Saudi Arabia's economic diversification plans.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of outstanding loan accounts held by individuals and businesses at commercial banks operating in Saudi Arabia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the development and accessibility of credit markets in Saudi Arabia, which is an important indicator of financial inclusion and economic growth.
Q: How is this data collected or calculated?
A: The data is collected by the Saudi Arabian Monetary Authority (SAMA) through surveys of commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the progress of Saudi Arabia's financial system development and credit market expansion, which are key priorities for the country's economic diversification efforts.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis with a delay of several months, so it may not reflect the most recent changes in the Saudi credit market.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts at Commercial Banks for Saudi Arabia (SAUFCNODCNUM), retrieved from FRED.