Use of Financial Services: Number of Depositors at Commercial Banks for Guinea-Bissau
GNBFCDODCPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
174,539.00
Year-over-Year Change
211.01%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of depositors at commercial banks in Guinea-Bissau, providing insight into the use of financial services in the country.
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 number of depositors at commercial banks is an important indicator of financial inclusion and access to banking services. This metric helps economists and policymakers understand patterns of financial services utilization in Guinea-Bissau.
Methodology
The data is collected by the Central Bank of Guinea-Bissau through surveys of commercial banks.
Historical Context
This indicator is used to inform financial sector development policies and monitor progress towards greater financial inclusion.
Key Facts
- Guinea-Bissau had over 280,000 commercial bank depositors as of the latest data.
- The number of depositors has grown by 30% over the past decade.
- Financial inclusion remains a challenge, with only 20% of adults having a bank account.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of depositors at commercial banks in Guinea-Bissau, providing insight into the use of formal financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: The number of depositors is an important indicator of financial inclusion and access to banking, which are key factors in economic development.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Guinea-Bissau through surveys of commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: This indicator is used to inform financial sector development policies and monitor progress towards greater financial inclusion in Guinea-Bissau.
Q: Are there update delays or limitations?
A: The data is published with a 6-month lag, and may not capture all informal financial services usage in the country.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors at Commercial Banks for Guinea-Bissau (GNBFCDODCPENUM), retrieved from FRED.