Use of Financial Services: Key Indicators, Small and Medium Enterprises (SME) Depositors with Commercial Banks (% of Non-financial Corporation Depositors with Commercial Banks) for Guinea
GINFCDODCSPNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
70.39
Year-over-Year Change
-19.58%
Date Range
1/1/2004 - 1/1/2014
Summary
This trend measures the use of financial services by small and medium enterprises (SMEs) in Guinea, specifically the percentage of SME depositors with commercial banks compared to all non-financial corporation depositors.
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, Small and Medium Enterprises (SME) Depositors with Commercial Banks (% of Non-financial Corporation Depositors with Commercial Banks) for Guinea' tracks the relative participation of SMEs in the formal banking system. This data point is useful for analyzing SME access to financial services and informing policies to promote financial inclusion.
Methodology
The data is collected by the World Bank through national banking sector surveys.
Historical Context
This trend provides insights into the financial health and banking engagement of Guinea's SME sector, which is crucial for economic development.
Key Facts
- SMEs account for over 90% of businesses in Guinea.
- Guinea has one of the lowest rates of financial inclusion in sub-Saharan Africa.
- Increasing SME access to banking services is a key priority for the Guinean government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of SME depositors with commercial banks in Guinea compared to all non-financial corporation depositors. It provides insights into SME financial inclusion.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the level of financial services usage by SMEs in Guinea, which are a crucial driver of economic growth and development.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank through national banking sector surveys.
Q: How is this trend used in economic policy?
A: This trend is used to inform policies and programs aimed at increasing SME access to formal banking services and promoting financial inclusion in Guinea.
Q: Are there update delays or limitations?
A: The data may be subject to delays in reporting and may not fully capture the informal financial activities of SMEs in Guinea.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Small and Medium Enterprises (SME) Depositors with Commercial Banks (% of Non-financial Corporation Depositors with Commercial Banks) for Guinea (GINFCDODCSPNUM), retrieved from FRED.