Use of Financial Services Deposit Accounts: Small and Medium Enterprise Accounts at Commercial Banks for Comoros
COMFCAODCSNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,262.60
Year-over-Year Change
411.45%
Date Range
1/1/2010 - 1/1/2023
Summary
This economic trend measures the number of small and medium enterprise (SME) deposit accounts at commercial banks in Comoros. It provides insights into the level of financial inclusion and access to banking services for businesses 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 Deposit Accounts: Small and Medium Enterprise Accounts at Commercial Banks for Comoros metric tracks the total number of deposit accounts held by SMEs at commercial banks operating in Comoros. This data point is a key indicator of financial access and the degree to which small and medium-sized businesses are integrated into the formal banking system.
Methodology
The data is collected and reported by the Central Bank of Comoros.
Historical Context
This trend is used by policymakers, economists, and financial institutions to assess the state of financial inclusion and SME access to banking services in Comoros.
Key Facts
- Comoros has a population of over 850,000 people.
- SMEs account for over 90% of businesses in Comoros.
- Access to formal banking services remains a challenge for many SMEs in the country.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held by small and medium enterprises (SMEs) at commercial banks operating in Comoros.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial inclusion and access to banking services for businesses in Comoros, which is important for assessing the country's economic development and growth potential.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Comoros.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and financial institutions use this trend to evaluate the state of financial inclusion and SME access to banking services in Comoros, which can inform policy decisions and development strategies.
Q: Are there update delays or limitations?
A: The data may be subject to occasional delays in reporting by the Central Bank of Comoros, and the coverage may not include all financial institutions operating in the country.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Small and Medium Enterprise Accounts at Commercial Banks for Comoros (COMFCAODCSNUM), retrieved from FRED.