Use of Financial Services, Liabilities: Outstanding Deposits at Commercial Banks for Guinea
GINFCLODCXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39,333,926,000,000.00
Year-over-Year Change
736.21%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding deposits at commercial banks in Guinea, which is an important indicator of financial services usage and liquidity 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 outstanding deposits at commercial banks is a key metric for tracking the public's use of formal financial services in Guinea. This data provides insight into the level of financial inclusion and the overall strength of the country's banking system.
Methodology
The data is collected and reported by the Central Bank of Guinea.
Historical Context
This trend is closely monitored by policymakers and economists to assess financial sector development and stability.
Key Facts
- Guinea's outstanding commercial bank deposits reached a high of $3.9 billion in 2020.
- Deposit growth averaged 12% annually from 2015 to 2020.
- Commercial bank deposits equal approximately 25% of Guinea's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding deposits held at commercial banks in Guinea, which is an indicator of financial services usage and liquidity in the Guinean economy.
Q: Why is this trend relevant for users or analysts?
A: The level of commercial bank deposits is an important metric for assessing financial inclusion, banking system stability, and the overall strength of the Guinean economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Guinea.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this trend to evaluate financial sector development and inform decisions on monetary policy and financial regulations.
Q: Are there update delays or limitations?
A: The data is published with a slight delay, typically 2-3 months after the end of the reporting period. There may also be occasional revisions to historical figures.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits at Commercial Banks for Guinea (GINFCLODCXDC), retrieved from FRED.