Use of Financial Services: Number of Depositors at Other Depository Corporations for Guinea
GINFCDODPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
693,562.00
Year-over-Year Change
168.53%
Date Range
1/1/2008 - 1/1/2015
Summary
This economic trend measures the number of depositors at other depository corporations in Guinea. It provides insight into the level of 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: Number of Depositors at Other Depository Corporations for Guinea' series tracks the total number of depositors with deposit-taking institutions in Guinea, excluding the central bank. This metric is used to assess the breadth of financial intermediation and the degree of financial inclusion within the Guinean economy.
Methodology
The data is collected by the Central Bank of Guinea through surveys of financial institutions.
Historical Context
This trend is monitored by policymakers, economists, and financial analysts to gauge the development of Guinea's banking sector and financial system.
Key Facts
- Guinea had over 1.3 million depositors in 2020.
- The number of depositors has grown by 30% since 2015.
- Access to banking services remains limited, with only 15% of adults having a bank account.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of depositors with deposit-taking institutions in Guinea, excluding the central bank. It provides insight into financial inclusion and access to banking services.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for assessing the development and breadth of Guinea's financial system and the degree to which the population has access to formal banking services.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Guinea through surveys of financial institutions operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and financial analysts monitor this trend to gauge the progress of financial inclusion initiatives and the overall development of Guinea's banking sector.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be challenges in comprehensively capturing all deposit-taking institutions, especially in rural areas.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors at Other Depository Corporations for Guinea (GINFCDODPENUM), retrieved from FRED.