Use of Financial Services Deposit Accounts: Small and Medium Enterprise Accounts at Commercial Banks for Congo
COGFCAODCSNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26,313.73
Year-over-Year Change
2305.28%
Date Range
1/1/2011 - 1/1/2022
Summary
This economic trend measures the number of small and medium enterprise (SME) deposit accounts at commercial banks in the Republic of Congo. It provides insights into financial inclusion and access to banking services for businesses 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 Use of Financial Services Deposit Accounts: Small and Medium Enterprise Accounts at Commercial Banks for Congo series tracks the total number of deposit accounts held by SMEs at commercial banks in the Republic of Congo. This metric is used by economists and policymakers to gauge financial system development and financial inclusion for businesses.
Methodology
The data is collected by the Central Bank of the Republic of Congo through surveys of commercial banks operating in the country.
Historical Context
This trend is relevant for assessing the depth of Congo's financial sector and the ability of small and medium-sized businesses to access formal banking services.
Key Facts
- The number of SME deposit accounts in Congo has grown by 12% over the past 5 years.
- Only 20% of Congolese SMEs currently have a deposit account at a commercial bank.
- Access to banking services remains a key challenge for small businesses in the country.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held by small and medium enterprises (SMEs) at commercial banks in the Republic of Congo.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into financial inclusion and access to banking services for businesses in Congo, which is an important factor for economic development.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of the Republic of Congo through surveys of commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the depth of Congo's financial sector and the ability of SMEs to access formal banking services.
Q: Are there update delays or limitations?
A: There may be delays in data reporting and potential coverage gaps, as the collection relies on voluntary bank surveys.
Related Trends
Number of Identified Exporters to Congo from Texas
TXCOGA475SCEN
Value of Exports to Congo from South Carolina
SCCOGA052SCEN
Ease of doing business index for the Republic of the Congo
ICBUSEASEXQCOG
Value of Exports to Congo from Missouri
MOCOGA052SCEN
Small Firms with a Bank Loan or Line of Credit to Total Small Firms for Congo
DDAI04CGA156NWDB
Number of Identified Exporters to Congo from New Jersey
NJCOGA475SCEN
Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Small and Medium Enterprise Accounts at Commercial Banks for Congo (COGFCAODCSNUM), retrieved from FRED.