Use of Financial Services, Liabilities: Outstanding Deposits by Households at Commercial Banks for Guinea
GINFCLODCHXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,018,575,000,000.00
Year-over-Year Change
736.77%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding deposits held by households at commercial banks in Guinea. It provides insights into the level of financial services usage and household savings in the Guinean 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, Liabilities: Outstanding Deposits by Households at Commercial Banks for Guinea trend tracks the total value of deposit liabilities held by households at commercial banks operating in the country. This metric is an important indicator of financial inclusion and the strength of the banking system in Guinea.
Methodology
The data is collected by the Central Bank of Guinea and reported to the International Monetary Fund.
Historical Context
This trend is closely monitored by policymakers, economists, and financial analysts to assess the health of Guinea's financial sector and household savings patterns.
Key Facts
- Guinea is a low-income country in West Africa.
- The banking sector in Guinea is relatively underdeveloped.
- Improving financial inclusion is a key development priority for the Guinean government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of deposit liabilities held by households at commercial banks operating in Guinea.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial services usage and household savings patterns in the Guinean economy, which is important for policymakers and economists analyzing the country's financial sector development.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Guinea and reported to the International Monetary Fund.
Q: How is this trend used in economic policy?
A: Policymakers and financial analysts closely monitor this trend to assess the health of Guinea's banking system and progress towards improving financial inclusion, which is a key development priority.
Q: Are there update delays or limitations?
A: The data may be subject to occasional delays in reporting from the Central Bank of Guinea, and the coverage may be limited due to the relatively underdeveloped nature of the Guinean financial sector.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits by Households at Commercial Banks for Guinea (GINFCLODCHXDC), retrieved from FRED.