Use of Financial Services Borrowers: Persons Borrowing from Commercial Banks for El Salvador
SLVFCRODCPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,752,598.00
Year-over-Year Change
23.65%
Date Range
1/1/2008 - 1/1/2016
Summary
The 'Use of Financial Services Borrowers: Persons Borrowing from Commercial Banks for El Salvador' trend measures the number of individuals in El Salvador who borrow from commercial banks. This data provides insights into the country's financial inclusion and access to credit.
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
This economic trend represents the level of financial services usage and credit access among the population of El Salvador. It is an important indicator for evaluating the depth and penetration of the country's banking and lending infrastructure.
Methodology
The data is collected by the Central Bank of El Salvador through surveys and reports from commercial banks.
Historical Context
This metric is closely monitored by policymakers, economists, and financial institutions to assess financial development and access to credit in the Salvadoran economy.
Key Facts
- El Salvador has a population of over 6.5 million.
- The trend has increased from 758,000 borrowers in 2010 to 1.1 million in 2020.
- Access to credit is a key driver of economic growth and development.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of individuals in El Salvador who borrow money from commercial banks, providing insights into the country's financial inclusion and access to credit.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for evaluating the depth and penetration of El Salvador's banking and lending infrastructure, which is an important indicator of financial development and economic growth.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of El Salvador through surveys and reports from commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and financial institutions closely monitor this metric to assess financial inclusion, access to credit, and the overall health of the Salvadoran banking sector.
Q: Are there update delays or limitations?
A: The data is released periodically by the Central Bank of El Salvador, and there may be occasional delays or limitations in data availability.
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Citation
U.S. Federal Reserve, Use of Financial Services Borrowers: Persons Borrowing from Commercial Banks for El Salvador (SLVFCRODCPENUM), retrieved from FRED.