Use of Financial Services Borrowers: Persons Borrowing from Commercial Banks for Saudi Arabia
SAUFCRODCPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,709,270.00
Year-over-Year Change
35.70%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of individuals borrowing from commercial banks in Saudi Arabia. It provides insight into the use of financial services and access to credit within the Saudi Arabian economy.
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 Borrowers: Persons Borrowing from Commercial Banks for Saudi Arabia' series tracks the total number of people who have taken out loans or credit from commercial banks operating in Saudi Arabia. This metric is an important indicator of financial inclusion and the overall health of the Saudi banking sector.
Methodology
The data is collected and reported by the Saudi Arabian Monetary Authority (SAMA).
Historical Context
Policymakers and analysts use this metric to assess financial system development and consumer credit trends in Saudi Arabia.
Key Facts
- Saudi Arabia had over 10 million borrowers from commercial banks as of the latest data.
- This metric has grown steadily over the past decade, reflecting expanding access to financial services.
- Borrowing from commercial banks is a key component of household financial health in Saudi Arabia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of individuals who have taken out loans or credit from commercial banks operating in Saudi Arabia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into financial inclusion and the overall health of the Saudi banking sector, which are important factors for policymakers and economists analyzing the Saudi Arabian economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Saudi Arabian Monetary Authority (SAMA).
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess financial system development and consumer credit trends in Saudi Arabia, which can inform economic and regulatory decisions.
Q: Are there update delays or limitations?
A: The data is published with a lag, so there may be delays in accessing the most recent information. Additionally, the metric may not capture all informal or alternative financial services usage in Saudi Arabia.
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Citation
U.S. Federal Reserve, Use of Financial Services Borrowers: Persons Borrowing from Commercial Banks for Saudi Arabia (SAUFCRODCPENUM), retrieved from FRED.