Use of Financial Services: Number of Depositors which are Small and Medium Enterprises at Credit Unions and Financial Cooperatives for Guinea
GINFCDODUSPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24,160.00
Year-over-Year Change
7356.79%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of depositors that are small and medium enterprises (SMEs) at credit unions and financial cooperatives in Guinea. It provides insights into the use of financial services by SMEs, a key indicator of financial inclusion and access to capital.
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 which are Small and Medium Enterprises at Credit Unions and Financial Cooperatives for Guinea' series tracks the number of SME depositors at these institutions. This metric helps assess the extent to which SMEs in Guinea are accessing formal financial services, which is crucial for economic development and growth.
Methodology
The data is collected through surveys of credit unions and financial cooperatives in Guinea.
Historical Context
This trend is used by policymakers, regulators, and analysts to evaluate financial inclusion and access to capital for SMEs in Guinea.
Key Facts
- Guinea has over 200 registered credit unions and financial cooperatives.
- SMEs account for more than 90% of businesses in Guinea's private sector.
- Increasing SME access to formal financial services is a key policy priority in Guinea.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of depositors that are small and medium enterprises (SMEs) at credit unions and financial cooperatives in Guinea.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial inclusion and access to capital for SMEs in Guinea, which is crucial for economic development and growth.
Q: How is this data collected or calculated?
A: The data is collected through surveys of credit unions and financial cooperatives in Guinea.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, regulators, and analysts to evaluate financial inclusion and access to capital for SMEs in Guinea.
Q: Are there update delays or limitations?
A: The data may be subject to collection and reporting delays, and may not capture all SME depositors in the informal financial sector.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors which are Small and Medium Enterprises at Credit Unions and Financial Cooperatives for Guinea (GINFCDODUSPENUM), retrieved from FRED.