Use of Financial Services Deposit Accounts: Small and Medium Enterprise Accounts at Commercial Banks for Guinea
GINFCAODCSNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
97,900.00
Year-over-Year Change
347.20%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of small and medium enterprise (SME) deposit accounts at commercial banks in Guinea. It provides insights into the financial services usage by SMEs, a key indicator of business activity and economic development.
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 Guinea series tracks the total number of deposit accounts held by SMEs at commercial banks in the country. This metric is used by economists and policymakers to gauge SME access to formal financial services, which is crucial for business growth and overall economic health.
Methodology
The data is collected by the Central Bank of Guinea through surveys of commercial banks operating in the country.
Historical Context
This trend is used to inform financial inclusion policies and monitor the development of Guinea's small business sector.
Key Facts
- Guinea is a lower-income country in West Africa.
- SMEs account for a large share of economic activity in developing countries.
- Access to formal banking services is crucial for SME growth and productivity.
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 in Guinea.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into SME access to formal financial services, which is a key indicator of business activity and economic development in Guinea.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Guinea through surveys of commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: This trend is used to inform financial inclusion policies and monitor the development of Guinea's small business sector.
Q: Are there update delays or limitations?
A: The data may be subject to delays in reporting from commercial banks and limited coverage of the informal financial sector.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Small and Medium Enterprise Accounts at Commercial Banks for Guinea (GINFCAODCSNUM), retrieved from FRED.