Use of Financial Services: Number of Depositors which are Small and Medium Enterprises at Other Deposit Takers for Ecuador
ECUFCDODDSPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22,206.32
Year-over-Year Change
120.26%
Date Range
1/1/2005 - 1/1/2014
Summary
This economic trend measures the number of small and medium-sized enterprises (SMEs) that are depositors at deposit-taking institutions in Ecuador. It provides insight into SMEs' use of financial services and their role in the Ecuadorian 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 Other Deposit Takers for Ecuador' series tracks the number of SME depositors at institutions like banks, credit unions, and other deposit-taking entities in Ecuador. This metric is used to assess SMEs' access to and reliance on formal financial services.
Methodology
The data is collected through surveys of deposit-taking institutions in Ecuador.
Historical Context
This trend is relevant for policymakers and economists analyzing financial inclusion and the health of Ecuador's small business sector.
Key Facts
- SMEs account for over 90% of businesses in Ecuador.
- Access to formal financial services is crucial for SME growth and stability.
- The number of SME depositors has steadily increased in Ecuador over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of small and medium-sized enterprises (SMEs) that are depositors at deposit-taking institutions in Ecuador, providing insight into SMEs' use of financial services.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers and economists analyzing financial inclusion and the health of Ecuador's small business sector, as access to formal financial services is crucial for SME growth and stability.
Q: How is this data collected or calculated?
A: The data is collected through surveys of deposit-taking institutions in Ecuador.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and economists to assess SMEs' access to and reliance on formal financial services, which is an important indicator of financial inclusion and small business development in Ecuador.
Q: Are there update delays or limitations?
A: There may be delays in data reporting or updates, and the data may not capture all informal financial services used by SMEs in Ecuador.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors which are Small and Medium Enterprises at Other Deposit Takers for Ecuador (ECUFCDODDSPENUM), retrieved from FRED.