Use of Financial Services Deposit Accounts: Accounts at Other Depository Corporations for Guinea
GINFCAODNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
787,602.00
Year-over-Year Change
177.34%
Date Range
1/1/2008 - 1/1/2015
Summary
This economic trend measures the use of financial services deposit accounts held at depository corporations other than the central bank in Guinea. It provides insights into the financial inclusion and access to banking services 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: Accounts at Other Depository Corporations for Guinea tracks the number of deposit accounts held at depository institutions excluding the central bank. This metric serves as an indicator of financial inclusion and the reach of the formal banking system within the Guinean economy.
Methodology
The data is collected and reported by the World Bank based on surveys and administrative records.
Historical Context
Policymakers and economists use this trend to assess the level of financial access and the development of the financial sector in Guinea.
Key Facts
- Guinea's deposit accounts at other depository corporations stood at 2.23 million in 2021.
- Financial inclusion in Guinea has improved, but remains below the regional average.
- Increasing access to banking services is a key policy priority for economic growth in Guinea.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of deposit accounts held at depository institutions excluding the central bank in Guinea. It provides insights into financial inclusion and access to formal banking services in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers, economists, and analysts as it serves as an indicator of financial sector development and the extent to which the population has access to formal banking services in Guinea.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank based on surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and institutions use this trend to assess the level of financial inclusion and access to banking services, which is a key priority for promoting economic growth and development in Guinea.
Q: Are there update delays or limitations?
A: The data is reported annually, and there may be some delays in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Other Depository Corporations for Guinea (GINFCAODNUM), retrieved from FRED.