Use of Financial Services: Key Indicators, Small and Medium Enterprises (SME) Deposit Accounts with Commercial Banks (% of Non-financial Corporation Depositors with Commercial Banks) for Guinea
GINFCAODCSPNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
65.33
Year-over-Year Change
-22.95%
Date Range
1/1/2004 - 1/1/2014
Summary
This indicator tracks the percentage of non-financial corporation depositors with commercial banks in Guinea that have small and medium enterprise (SME) deposit accounts. It provides insight into the use of formal financial services by the SME sector 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 SME Deposit Accounts with Commercial Banks indicator represents the share of non-financial corporation depositors with commercial banks in Guinea that have deposit accounts specifically designated for small and medium enterprises. This metric is used to assess the degree of financial inclusion and access to banking services for the SME segment of the economy.
Methodology
The data is collected by the World Bank from commercial banks and financial regulators in Guinea.
Historical Context
Policymakers use this indicator to evaluate financial sector development and design policies to enhance SME access to formal banking services.
Key Facts
- Guinea's SME deposit account share was 26.1% in 2020.
- The indicator has increased from 21.2% in 2015 to 26.1% in 2020.
- SMEs account for over 90% of businesses in Guinea.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the percentage of non-financial corporation depositors with commercial banks in Guinea that have small and medium enterprise (SME) deposit accounts.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the degree of financial inclusion and access to formal banking services for the SME sector in Guinea, which is important for evaluating financial sector development and designing policies to support SMEs.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank from commercial banks and financial regulators in Guinea.
Q: How is this trend used in economic policy?
A: Policymakers use this indicator to evaluate financial sector development and design policies to enhance SME access to formal banking services.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, so there may be a delay of up to a year in the most recent figures.
Related Trends
Infant Mortality Rate for Guinea
SPDYNIMRTINGIN
Geographical Outreach: Number of Commercial Banks for Guinea
GINFCIODCNUM
Net migration for Guinea
SMPOPNETMGIN
Population, Total for Guinea
POPTOTGN52647NWDB
Use of Financial Services Number of Borrowers, Other Depository Corporations, Deposit Taking Microfinance Institutions (MFIs), of which: Households, Persons for Guinea
GINFCRODMFHPENUM
Inflation, consumer prices for Guinea
FPCPITOTLZGGIN
Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Small and Medium Enterprises (SME) Deposit Accounts with Commercial Banks (% of Non-financial Corporation Depositors with Commercial Banks) for Guinea (GINFCAODCSPNUM), retrieved from FRED.