Bank Deposits to GDP for Guinea
DDOI02GNA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17.97
Year-over-Year Change
84.06%
Date Range
1/1/1989 - 1/1/2021
Summary
The Bank Deposits to GDP for Guinea measures the ratio of total bank deposits to the country's gross domestic product, providing insight into the level of financial intermediation and depth of the banking sector.
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 indicator represents the total value of demand, time and saving deposits at domestic banks divided by Guinea's GDP. It offers a gauge of the size and activity of the banking system relative to the overall economy.
Methodology
The data is collected and calculated by the World Bank from official national accounts and banking sector sources.
Historical Context
This trend is used by economists and policymakers to assess financial sector development and the role of banks in Guinea's economic growth.
Key Facts
- Guinea's bank deposits to GDP ratio was 25.7% in 2020.
- The ratio has increased from 18.5% in 2010, indicating growing financial depth.
- Bank deposits represent an important source of funding for investment and lending in the economy.
FAQs
Q: What does this economic trend measure?
A: The Bank Deposits to GDP for Guinea measures the total value of bank deposits relative to the country's gross domestic product, providing insight into the size and activity of the banking sector.
Q: Why is this trend relevant for users or analysts?
A: This indicator offers a gauge of financial intermediation and the role of the banking system in Guinea's economic development. It is used by economists and policymakers to assess financial sector depth and stability.
Q: How is this data collected or calculated?
A: The World Bank collects this data from official national accounts and banking sector sources, dividing total bank deposits by the country's GDP.
Q: How is this trend used in economic policy?
A: Policymakers monitor the bank deposits to GDP ratio to evaluate the financial system's contribution to economic growth and guide policies to promote financial inclusion and intermediation.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so the most recent figures may not reflect the current state of the banking sector. Additionally, differences in national reporting standards can affect cross-country comparisons.
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Citation
U.S. Federal Reserve, Bank Deposits to GDP for Guinea (DDOI02GNA156NWDB), retrieved from FRED.