Use of Financial Services: Number of Depositors which are Small and Medium Enterprises at Deposit Taking Microfinance Institutions (MFIs) for Guinea
GINFCDODMFSPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,489.00
Year-over-Year Change
60535.71%
Date Range
1/1/2008 - 1/1/2017
Summary
This economic trend measures the number of small and medium enterprises (SMEs) that are depositors at deposit-taking microfinance institutions (MFIs) in Guinea. It provides insights into financial inclusion and access to formal banking services for SMEs, which are crucial for 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: Number of Depositors which are Small and Medium Enterprises at Deposit Taking Microfinance Institutions (MFIs) for Guinea' metric tracks the engagement of SMEs with the formal financial system through their deposit accounts at MFIs. This data point is important for understanding financial access and the role of microfinance in supporting small businesses.
Methodology
The data is collected through surveys of deposit-taking MFIs operating in Guinea.
Historical Context
This trend is relevant for policymakers and development organizations working to promote financial inclusion and support SMEs in Guinea.
Key Facts
- Guinea has a large informal economy, with limited access to formal financial services.
- Microfinance plays a crucial role in providing banking services to SMEs in Guinea.
- Increasing financial inclusion of SMEs is a key policy priority for economic development in Guinea.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of small and medium enterprises (SMEs) that have deposit accounts with deposit-taking microfinance institutions (MFIs) in Guinea.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into financial inclusion and access to formal banking services for SMEs in Guinea, which is crucial for supporting small business development and economic growth.
Q: How is this data collected or calculated?
A: The data is collected through surveys of deposit-taking MFIs operating in Guinea.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers and development organizations working to promote financial inclusion and support SMEs in Guinea.
Q: Are there update delays or limitations?
A: The data may be subject to delays in reporting and potential limitations in survey coverage of MFIs in Guinea.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors which are Small and Medium Enterprises at Deposit Taking Microfinance Institutions (MFIs) for Guinea (GINFCDODMFSPENUM), retrieved from FRED.