Use of Financial Services, Mobile Banking: Value of Mobile Money Transactions (during the Reference Year) for Guinea
GINFCMTVXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
211,204,627,000,000.00
Year-over-Year Change
3555533.45%
Date Range
1/1/2013 - 1/1/2023
Summary
The 'Use of Financial Services, Mobile Banking: Value of Mobile Money Transactions (during the Reference Year) for Guinea' trend measures the total monetary value of mobile money transactions in Guinea during a given reference year.
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
This indicator tracks the adoption and usage of mobile financial services in Guinea. It is an important metric for understanding the growth of digital finance and financial inclusion in the country.
Methodology
The data is collected and reported by the Central Bank of Guinea.
Historical Context
Policymakers and development institutions use this indicator to monitor progress towards financial technology (fintech) and financial inclusion goals.
Key Facts
- Guinea has seen rapid growth in mobile money usage in recent years.
- Mobile money helps extend financial services to underbanked populations.
- Digital finance is a key component of Guinea's financial sector development strategy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total monetary value of mobile money transactions in Guinea during a given reference year. It tracks the adoption and usage of mobile financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This indicator is important for understanding the growth of digital finance and financial inclusion in Guinea. It provides insights into the development of the country's fintech sector and progress towards expanding access to financial services.
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 development institutions use this indicator to monitor progress towards financial technology (fintech) and financial inclusion goals in Guinea.
Q: Are there update delays or limitations?
A: The data may be subject to reporting lags or incomplete coverage, as mobile money transactions can be difficult to fully capture.
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Citation
U.S. Federal Reserve, Use of Financial Services, Mobile Banking: Value of Mobile Money Transactions (during the Reference Year) for Guinea (GINFCMTVXDC), retrieved from FRED.