Use of Financial Services, Mobile Banking: Value of Outstanding Balances in Active Mobile Money Accounts for Guinea
GINFCMAABXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,852,407,000,000.00
Year-over-Year Change
529159.14%
Date Range
1/1/2013 - 1/1/2023
Summary
This economic trend measures the value of outstanding balances in active mobile money accounts in Guinea. It provides insights into the adoption and usage of mobile financial 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, Mobile Banking: Value of Outstanding Balances in Active Mobile Money Accounts for Guinea tracks the total value of funds held in mobile money accounts that are actively used by consumers and businesses in Guinea. This metric is an important indicator of financial inclusion and the development of digital financial infrastructure.
Methodology
The data is collected by the World Bank from financial service providers and regulators in Guinea.
Historical Context
This trend is used by policymakers, development organizations, and economists to monitor financial sector progress and identify opportunities for expanding access to digital financial services.
Key Facts
- Guinea had 3.7 million active mobile money accounts as of 2021.
- The value of outstanding balances in these accounts reached $189 million.
- Mobile money usage has grown rapidly in Guinea over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of funds held in active mobile money accounts in Guinea. It provides insights into the adoption and usage of digital financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important indicator of financial inclusion and the development of digital financial infrastructure in Guinea. It helps policymakers, development organizations, and economists monitor progress and identify opportunities for expanding access to mobile money services.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank from financial service providers and regulators in Guinea.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, development organizations, and economists to monitor financial sector progress and identify opportunities for expanding access to digital financial services in Guinea.
Q: Are there update delays or limitations?
A: The data may be subject to reporting lags and limited coverage in certain regions or market segments.
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Citation
U.S. Federal Reserve, Use of Financial Services, Mobile Banking: Value of Outstanding Balances in Active Mobile Money Accounts for Guinea (GINFCMAABXDC), retrieved from FRED.