Use of Financial Services: Number of Loan Accounts for Small and Medium Enterprises at Credit Unions and Financial Cooperatives for Guinea
GINFCNODUSNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
348.00
Year-over-Year Change
-93.26%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of loan accounts for small and medium enterprises (SMEs) at credit unions and financial cooperatives in Guinea. It provides insights into the accessibility of financial services for SMEs, a key driver of economic growth.
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 number of loan accounts for SMEs at credit unions and financial cooperatives in Guinea reflects the level of financial inclusion and access to credit for small businesses. This data is used by policymakers and researchers to evaluate the effectiveness of financial sector development programs and inform policies aimed at supporting SME growth.
Methodology
The data is collected by the Central Bank of Guinea through surveys of credit unions and financial cooperatives operating in the country.
Historical Context
This trend is relevant for understanding the state of financial inclusion and access to credit for SMEs, which are crucial for promoting private sector development and economic diversification in Guinea.
Key Facts
- Guinea has a population of over 13 million people.
- SMEs account for over 90% of businesses in Guinea.
- Access to finance is a major constraint for SME growth in Guinea.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of loan accounts for 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 trend provides insights into the level of financial inclusion and access to credit for SMEs, which are crucial for promoting private sector development and economic growth in Guinea.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Guinea through surveys of credit unions and financial cooperatives operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers and researchers use this data to evaluate the effectiveness of financial sector development programs and inform policies aimed at supporting SME growth in Guinea.
Q: Are there update delays or limitations?
A: The data may be subject to delays in reporting and can be limited by the coverage and accuracy of the surveys conducted by the Central Bank of Guinea.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts for Small and Medium Enterprises at Credit Unions and Financial Cooperatives for Guinea (GINFCNODUSNUM), retrieved from FRED.