Use of Financial Services Borrowers: Small and Medium Enterprises Borrowing from Commercial Banks for Guinea
GINFCRODCSPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,830.00
Year-over-Year Change
897.24%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the borrowing activity of small and medium-sized enterprises (SMEs) from commercial banks in Guinea. It provides insight into SME access to financial services, a key indicator of 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 Borrowers: Small and Medium Enterprises Borrowing from Commercial Banks for Guinea series tracks the percentage of SMEs that have an outstanding loan or line of credit with a commercial bank. This metric reflects the availability and usage of formal credit for the small business sector.
Methodology
The data is collected through enterprise surveys conducted by the World Bank.
Historical Context
This trend is used by policymakers and analysts to assess the financial inclusion and access to credit for SMEs, which are crucial for private sector growth and job creation.
Key Facts
- SMEs account for over 90% of businesses in Guinea.
- Only 15% of Guinean SMEs have access to formal credit.
- Improving SME access to finance is a key policy priority in Guinea.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of small and medium enterprises (SMEs) in Guinea that have an outstanding loan or line of credit from a commercial bank.
Q: Why is this trend relevant for users or analysts?
A: The level of SME borrowing from commercial banks is an important indicator of financial inclusion and access to credit for the private sector, which are crucial for economic development and job creation.
Q: How is this data collected or calculated?
A: The data is collected through enterprise surveys conducted by the World Bank.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess financial access for SMEs and inform policies aimed at promoting private sector growth and financial inclusion.
Q: Are there update delays or limitations?
A: The data is published with a lag and may not be available for the most recent periods. The survey-based nature of the data also means it may not capture the full extent of SME borrowing activities.
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Citation
U.S. Federal Reserve, Use of Financial Services Borrowers: Small and Medium Enterprises Borrowing from Commercial Banks for Guinea (GINFCRODCSPENUM), retrieved from FRED.