Use of Financial Services: Key Indicators, Household Depositors with Commercial Banks Per 1000 Adults for Senegal
SENFCDODCHANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
231.47
Year-over-Year Change
86.50%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic indicator tracks the number of household depositors with commercial banks per 1,000 adults in Senegal. It provides insights into financial inclusion and access to banking services within the Senegalese population.
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, Household Depositors with Commercial Banks Per 1000 Adults for Senegal' metric measures the level of household participation in the formal banking system. It is a widely used indicator of financial inclusion and development in emerging economies.
Methodology
The data is collected and reported by the World Bank, based on surveys and administrative records from financial institutions in Senegal.
Historical Context
This indicator is relevant for policymakers, economists, and development institutions seeking to assess Senegal's progress in expanding access to basic financial services.
Key Facts
- Senegal's household depositors per 1,000 adults was 337 in 2017.
- Financial inclusion has increased in Senegal, but still lags behind other African nations.
- Access to formal banking services is a key driver of economic growth and poverty reduction.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the number of household depositors with commercial banks per 1,000 adults in Senegal. It provides insights into financial inclusion and access to basic banking services.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for assessing Senegal's progress in expanding access to formal financial services, which is a key driver of economic development and poverty reduction.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank, based on surveys and administrative records from financial institutions in Senegal.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and development institutions use this indicator to evaluate Senegal's financial inclusion efforts and inform policies aimed at increasing access to basic banking services.
Q: Are there update delays or limitations?
A: The data is published annually, and there may be some delays in reporting due to the survey-based nature of the data collection.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Household Depositors with Commercial Banks Per 1000 Adults for Senegal (SENFCDODCHANUM), retrieved from FRED.