People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Guinea
DDAI07GNA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.11
Year-over-Year Change
149.73%
Date Range
1/1/2011 - 1/1/2021
Summary
This economic indicator measures the percentage of people aged 15 and older in Guinea who have borrowed from a financial institution in the past year. It provides insights into financial inclusion and access to credit within 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 'People 15 Years and Over Borrowing from a Financial Institution in the Past Year' metric tracks the adult population's usage of formal banking services in Guinea. It is an important measure of financial development and inclusion, which are key factors for economic growth and poverty reduction.
Methodology
The data is collected through household surveys conducted by the World Bank.
Historical Context
This indicator is widely used by policymakers, economists, and development organizations to assess financial sector performance and design policies to improve access to credit and other financial services.
Key Facts
- Guinea's borrowing rate from financial institutions was 3.75% in 2017.
- Access to credit is a key challenge for economic development in Guinea.
- Financial inclusion is a priority for the Guinean government and its development partners.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the percentage of the adult population in Guinea who have borrowed from a formal financial institution, such as a bank, within the past year.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into financial inclusion and access to credit in Guinea, which are crucial for economic growth and poverty reduction.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the World Bank.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and development organizations use this indicator to assess financial sector performance and design policies to improve access to credit and other financial services.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be limitations in survey coverage and methodology across different countries.
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Citation
U.S. Federal Reserve, People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Guinea (DDAI07GNA156NWDB), retrieved from FRED.