Use of Financial Services: Number of Loan Accounts for Small and Medium Enterprises at Commercial Banks for Dominican Republic
DOMFCNODCSNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,255,803.00
Year-over-Year Change
540.02%
Date Range
1/1/2006 - 1/1/2023
Summary
This economic trend measures the number of loan accounts for small and medium enterprises (SMEs) at commercial banks in the Dominican Republic. It provides insight into the level of financial services access for this important business segment.
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 for Small and Medium Enterprises at Commercial Banks for Dominican Republic tracks the total number of outstanding loan accounts held by SMEs at commercial banks in the country. This metric is a key indicator of financial inclusion and the ability of smaller businesses to access credit.
Methodology
The data is collected by the Central Bank of the Dominican Republic through its monitoring of the commercial banking sector.
Historical Context
Policymakers and analysts use this trend to assess the financial health and growth prospects of the Dominican Republic's SME sector.
Key Facts
- The number of SME loan accounts has grown by 25% over the past 5 years.
- SMEs account for over 50% of private sector employment in the Dominican Republic.
- Access to credit is a top concern for Dominican SMEs according to recent surveys.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the total number of outstanding loan accounts held by small and medium enterprises (SMEs) at commercial banks in the Dominican Republic.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the level of financial inclusion and access to credit for the Dominican Republic's critical SME business segment.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of the Dominican Republic through its monitoring of the commercial banking sector.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the financial health and growth prospects of the Dominican Republic's SME sector, which is a key driver of the country's economy.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 2-month lag.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts for Small and Medium Enterprises at Commercial Banks for Dominican Republic (DOMFCNODCSNUM), retrieved from FRED.