Use of Financial Services: Key Indicators, Outstanding Small and Medium Enterprises (SME) Deposits with Commercial Banks for Comoros
COMFCLODCSGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.94
Year-over-Year Change
37.51%
Date Range
1/1/2010 - 1/1/2023
Summary
This economic indicator measures the outstanding deposits held by small and medium enterprises (SMEs) with commercial banks in Comoros as a percentage of the country's GDP. It provides insights into the use of financial services by the SME sector, which is crucial for 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: Key Indicators, Outstanding Small and Medium Enterprises (SME) Deposits with Commercial Banks for Comoros metric tracks the level of financial inclusion and intermediation for the SME segment. It is an important indicator of financial sector development and the ability of smaller businesses to access banking services.
Methodology
The data is collected and reported by the Central Bank of Comoros.
Historical Context
This indicator is used by policymakers, economists, and financial institutions to assess the financial health and inclusiveness of Comoros' economy.
Key Facts
- SME deposits account for approximately 10% of Comoros' GDP.
- Comoros has made progress in financial inclusion, but access remains limited for smaller businesses.
- Boosting SME access to banking services is a key priority for Comoros' economic development.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the outstanding deposits held by small and medium enterprises (SMEs) with commercial banks in Comoros as a percentage of the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial inclusion and intermediation for the SME sector in Comoros, which is crucial for economic development and growth.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Comoros.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and financial institutions use this indicator to assess the financial health and inclusiveness of Comoros' economy, and to inform policies aimed at boosting SME access to banking services.
Q: Are there update delays or limitations?
A: The data is subject to the reporting schedule and data collection processes of the Central Bank of Comoros, which may result in occasional delays or limitations.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Small and Medium Enterprises (SME) Deposits with Commercial Banks for Comoros (COMFCLODCSGGDPPT), retrieved from FRED.