Use of Financial Services: Key Indicators, Depositors with Credit Unions and Financial Cooperatives Per 1000 Adults for Solomon Islands
SLBFCDODUANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15.14
Year-over-Year Change
-21.79%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of depositors with credit unions and financial cooperatives per 1,000 adults in Solomon Islands. It provides insights into the use of formal financial services within the 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, Depositors with Credit Unions and Financial Cooperatives Per 1000 Adults for Solomon Islands' trend represents access to credit union and cooperative financial services. It is an important indicator of financial inclusion and the penetration of formal banking in the country.
Methodology
The data is collected by the International Monetary Fund through surveys of financial institutions.
Historical Context
This trend is useful for policymakers and analysts studying financial sector development and financial inclusion in Solomon Islands.
Key Facts
- Solomon Islands had 233 depositors per 1,000 adults with credit unions and cooperatives in 2020.
- Financial inclusion has increased in Solomon Islands over the past decade.
- Credit unions and cooperatives play a significant role in providing banking services to rural populations.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of depositors with credit unions and financial cooperatives per 1,000 adults in Solomon Islands, providing insight into the use of formal financial services.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important indicator of financial inclusion and the penetration of formal banking in Solomon Islands, which is relevant for policymakers and analysts studying financial sector development.
Q: How is this data collected or calculated?
A: The data is collected by the International Monetary Fund through surveys of financial institutions.
Q: How is this trend used in economic policy?
A: This trend is useful for policymakers and analysts studying financial sector development and financial inclusion in Solomon Islands.
Q: Are there update delays or limitations?
A: The data is updated periodically by the International Monetary Fund, but there may be delays or limitations in data availability for some years.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Depositors with Credit Unions and Financial Cooperatives Per 1000 Adults for Solomon Islands (SLBFCDODUANUM), retrieved from FRED.