Use of Financial Services: Number of Depositors which are Small and Medium Enterprises at Commercial Banks for Dominican Republic
DOMFCDODCSPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,204,445.00
Year-over-Year Change
2162.29%
Date Range
1/1/2012 - 1/1/2023
Summary
This economic trend measures the number of small and medium-sized enterprise (SME) depositors at commercial banks in the Dominican Republic. It provides insight into the financial inclusion and access to banking services for SMEs, a critical segment of the Dominican economy.
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 Depositors which are Small and Medium Enterprises at Commercial Banks for the Dominican Republic is an indicator that tracks the number of SME accounts held at commercial banks in the country. This metric reflects the degree to which SMEs are able to access and utilize formal banking services, which is an important factor in fostering economic growth and development.
Methodology
The data is collected through surveys and reporting from commercial banks operating in the Dominican Republic.
Historical Context
This trend is relevant for policymakers and analysts seeking to understand financial inclusion and access to capital for SMEs, which are a major driver of economic activity in the Dominican Republic.
Key Facts
- SMEs account for over 90% of businesses in the Dominican Republic.
- Access to formal banking services is crucial for SME growth and competitiveness.
- The Dominican Republic has made strides in financial inclusion in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of small and medium-sized enterprise (SME) depositors at commercial banks in the Dominican Republic, providing insight into financial inclusion and access to banking services for this critical segment of the economy.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the degree to which SMEs in the Dominican Republic are able to access and utilize formal banking services, which is an important factor in fostering economic growth and development.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reporting from commercial banks operating in the Dominican Republic.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and analysts to assess financial inclusion and access to capital for SMEs, which are a major driver of economic activity in the Dominican Republic.
Q: Are there update delays or limitations?
A: The data may be subject to periodic reporting delays, and the methodology may evolve over time as the financial sector and data collection processes change.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors which are Small and Medium Enterprises at Commercial Banks for Dominican Republic (DOMFCDODCSPENUM), retrieved from FRED.