Use of Financial Services: Key Indicators, Value of Mobile Money Transactions During the Reference Year for Tonga
TONFCMTVGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.12
Year-over-Year Change
79421.02%
Date Range
1/1/2011 - 1/1/2018
Summary
This economic trend measures the value of mobile money transactions as a percentage of GDP for the island nation of Tonga. It provides insight into the adoption and usage of digital 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 Value of Mobile Money Transactions During the Reference Year for Tonga series tracks the total value of mobile money transactions, expressed as a percentage of the country's gross domestic product. This metric is used by economists and policymakers to gauge the penetration and impact of mobile financial services within Tonga's economy.
Methodology
The data is collected and reported annually by the Central Bank of Tonga.
Historical Context
Understanding trends in mobile money usage can inform financial inclusion policies and regulations.
Key Facts
- Tonga has a population of over 100,000 people.
- Mobile money services were first introduced in Tonga in 2010.
- The value of mobile money transactions reached 20% of GDP in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of mobile money transactions in Tonga as a percentage of the country's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the adoption and usage of digital financial services in Tonga, which is important for understanding financial inclusion and the development of the country's financial sector.
Q: How is this data collected or calculated?
A: The data is collected and reported annually by the Central Bank of Tonga.
Q: How is this trend used in economic policy?
A: Trends in mobile money usage can inform financial inclusion policies and regulations, as well as the development of Tonga's broader financial infrastructure.
Q: Are there update delays or limitations?
A: The data is reported annually, so there may be a delay of up to a year in the most recent figures being available.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Value of Mobile Money Transactions During the Reference Year for Tonga (TONFCMTVGGDPPT), retrieved from FRED.