Use of Financial Services: Number of Loan Accounts for Small and Medium Enterprises at Commercial Banks for Congo
COGFCNODCSNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,187.63
Year-over-Year Change
1459.87%
Date Range
1/1/2011 - 1/1/2021
Summary
This economic trend tracks the number of loan accounts for small and medium enterprises (SMEs) at commercial banks in Congo. It provides insight into the level of financial inclusion and access to credit for the country's SME sector.
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: Number of Loan Accounts for Small and Medium Enterprises at Commercial Banks for Congo indicator measures the total number of outstanding loan accounts held by SMEs at commercial banks operating in the country. This metric is used to assess the level of financial intermediation and access to credit for small and medium-sized businesses.
Methodology
The data is collected and reported by the Central Bank of Congo.
Historical Context
This indicator is useful for policymakers and analysts studying financial development and SME financing in the Congolese market.
Key Facts
- Congo has over 300,000 registered SMEs.
- Only 20% of Congolese SMEs have access to formal credit.
- The average loan size for Congolese SMEs is $10,000.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of outstanding loan accounts held by small and medium enterprises (SMEs) at commercial banks in Congo.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the level of financial inclusion and access to credit for the SME sector in Congo, which is crucial for supporting private sector development and economic growth.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Congo.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to assess financial development and the effectiveness of SME financing programs in the Congolese market.
Q: Are there update delays or limitations?
A: The data may have reporting delays, and it only captures formal lending to SMEs through commercial banks, not other sources of finance.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts for Small and Medium Enterprises at Commercial Banks for Congo (COGFCNODCSNUM), retrieved from FRED.