Use of Financial Services: Key Indicators, Loan Accounts with Commercial Banks Per 1,000 Adults for El Salvador
SLVFCNODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
484.52
Year-over-Year Change
41.87%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of loan accounts with commercial banks per 1,000 adults in El Salvador. It provides insights into financial inclusion and access to formal credit 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, Loan Accounts with Commercial Banks Per 1,000 Adults for El Salvador' data series tracks the prevalence of commercial bank loan accounts among the adult population. This metric is used to assess financial system development and evaluate progress towards greater financial inclusion.
Methodology
The data is collected and reported by the World Bank based on surveys and financial sector information.
Historical Context
Policymakers and economists analyze this trend to understand patterns of access to formal credit and design interventions to promote financial inclusion.
Key Facts
- Commercial bank loan accounts per 1,000 adults in El Salvador were 337 in 2017.
- The trend has shown gradual growth over the past decade.
- Access to formal credit remains a challenge for many Salvadoran adults.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of loan accounts with commercial banks per 1,000 adults in El Salvador. It provides an indicator of financial inclusion and access to formal credit in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers, economists, and analysts interested in understanding patterns of financial inclusion and access to credit in El Salvador. It helps inform policies and interventions aimed at promoting greater financial access.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank based on surveys and information from the Salvadoran financial sector.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to assess financial system development and design interventions to increase access to formal credit and promote greater financial inclusion in El Salvador.
Q: Are there update delays or limitations?
A: The data is reported annually, with some potential delays in publishing. 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, Loan Accounts with Commercial Banks Per 1,000 Adults for El Salvador (SLVFCNODCANUM), retrieved from FRED.