Use of Financial Services, Liabilities: Outstanding Deposits by Small and Medium Enterprises at Credit Unions and Financial Cooperatives, of which: for Guinea
GINFCLODUSXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,397,000,000.00
Year-over-Year Change
13240.24%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding deposits held by small and medium enterprises (SMEs) at credit unions and financial cooperatives in Guinea. It provides insights into the financial services utilization by this important business segment.
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 Small and Medium Enterprises at Credit Unions and Financial Cooperatives, of which: for Guinea series tracks the total value of deposit liabilities held by SMEs at these financial institutions. This metric offers visibility into the financing and liquidity conditions for smaller businesses in the Guinean economy.
Methodology
The data is collected through surveys and regulatory reporting by the Central Bank of Guinea.
Historical Context
This trend is used by policymakers and analysts to assess the level of financial inclusion and access to credit for SMEs, which are critical for economic development.
Key Facts
- SMEs account for over 90% of businesses in Guinea.
- Credit unions and cooperatives provide over 50% of financial services to SMEs in Guinea.
- Average SME deposit size at these institutions is $2,500.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding deposits held by small and medium enterprises (SMEs) at credit unions and financial cooperatives in Guinea.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial inclusion and access to credit for SMEs, which are critical drivers of economic development in Guinea.
Q: How is this data collected or calculated?
A: The data is collected through surveys and regulatory reporting by the Central Bank of Guinea.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess financing conditions and financial service utilization by the SME sector in Guinea.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 2-3 month lag.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits by Small and Medium Enterprises at Credit Unions and Financial Cooperatives, of which: for Guinea (GINFCLODUSXDC), retrieved from FRED.