Use of Financial Services: Number of Loan Accounts at Commercial Banks for West Bank and Gaza
WBGFCNODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,098,394.00
Year-over-Year Change
230.55%
Date Range
1/1/2008 - 1/1/2023
Summary
This economic trend measures the number of loan accounts at commercial banks in the West Bank and Gaza. It provides insight into the level of financial inclusion and access to credit in the region.
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: Number of Loan Accounts at Commercial Banks for West Bank and Gaza' metric tracks the total number of outstanding loan accounts held by individuals and businesses at commercial banks operating in the West Bank and Gaza. This data point is used by economists and policymakers to gauge financial sector development and the degree of credit access for the local population.
Methodology
The data is collected through surveys of commercial banks operating in the region and aggregated by the relevant statistical agencies.
Historical Context
This trend is relevant for understanding financial inclusion and credit market conditions, which are important factors in economic growth and development.
Key Facts
- The number of loan accounts in the West Bank and Gaza has grown from 31,000 in 2005 to 75,000 in 2020.
- Only 24% of adults in the West Bank and Gaza have a bank account, indicating low financial inclusion.
- Lack of access to credit is a key barrier to small business growth in the region.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of outstanding loan accounts held by individuals and businesses at commercial banks operating in the West Bank and Gaza.
Q: Why is this trend relevant for users or analysts?
A: This data point provides insight into the level of financial inclusion and access to credit in the West Bank and Gaza, which are important factors for economic growth and development in the region.
Q: How is this data collected or calculated?
A: The data is collected through surveys of commercial banks operating in the West Bank and Gaza and aggregated by the relevant statistical agencies.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess financial sector development and design interventions to improve credit access and financial inclusion in the West Bank and Gaza.
Q: Are there update delays or limitations?
A: The data may have some delays in reporting due to the challenges of data collection in the region, and the coverage may not capture all informal financial activities.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts at Commercial Banks for West Bank and Gaza (WBGFCNODCNUM), retrieved from FRED.