Use of Financial Services: Key Indicators, Borrowers from Commercial Banks Per 1000 Adults for Singapore
SGPFCRODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,073.68
Year-over-Year Change
29.41%
Date Range
1/1/2004 - 1/1/2020
Summary
This economic trend measures the number of borrowers from commercial banks per 1,000 adults in Singapore. It provides insights into the usage and access to financial services in 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: Key Indicators, Borrowers from Commercial Banks Per 1000 Adults for Singapore' series tracks the ratio of adults who have taken out loans from commercial banks in Singapore. This metric is widely used by economists and policymakers to gauge financial inclusion and the overall development of the country's banking sector.
Methodology
The data is collected by the Monetary Authority of Singapore through surveys and administrative records.
Historical Context
This trend is a key indicator of financial sector performance and is closely monitored by regulators, policymakers, and market analysts.
Key Facts
- Singapore has one of the highest rates of financial inclusion globally.
- The number of commercial bank borrowers per 1,000 adults has steadily increased over the past decade.
- Access to financial services is a key priority for the Singaporean government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of adults per 1,000 population who have taken out loans from commercial banks in Singapore.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial inclusion and development of the banking sector in Singapore, which is crucial for evaluating the overall health of the economy.
Q: How is this data collected or calculated?
A: The data is collected by the Monetary Authority of Singapore through surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and regulators closely monitor this indicator to assess the effectiveness of financial inclusion initiatives and guide policies aimed at improving access to banking services.
Q: Are there update delays or limitations?
A: The data is updated regularly by the Monetary Authority of Singapore, with minimal delays. However, the metric may not capture all informal financial activities in the country.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Borrowers from Commercial Banks Per 1000 Adults for Singapore (SGPFCRODCANUM), retrieved from FRED.