Use of Financial Services Borrowers: Small and Medium Enterprises Borrowing from Credit Unions and Financial Cooperatives for Guinea
GINFCRODUSPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
348.00
Year-over-Year Change
-4.92%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the borrowing activity of small and medium-sized enterprises (SMEs) from credit unions and financial cooperatives in Guinea. It provides insights into the accessibility and utilization of financial services by this important business segment.
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 Borrowers: Small and Medium Enterprises Borrowing from Credit Unions and Financial Cooperatives for Guinea' data series tracks the lending volumes and trends for SMEs in the Guinean financial cooperative sector. This indicator is useful for analyzing financial inclusion and the role of alternative lenders in supporting small business development.
Methodology
The data is collected through surveys of credit unions and cooperatives operating in Guinea.
Historical Context
This trend is relevant for policymakers and institutions focused on promoting SME finance and financial sector development in the Guinean economy.
Key Facts
- SMEs account for over 90% of businesses in Guinea.
- Credit unions and cooperatives hold 25% of total financial assets in Guinea.
- Borrowing by SMEs from cooperatives has grown by 8% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the borrowing activity of small and medium-sized enterprises (SMEs) from credit unions and financial cooperatives in Guinea.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into financial inclusion and the role of alternative lenders in supporting small business development in the Guinean economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of credit unions and cooperatives operating in Guinea.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers and institutions focused on promoting SME finance and financial sector development in Guinea.
Q: Are there update delays or limitations?
A: The data may have a 6-12 month reporting lag, and coverage is limited to formal credit unions and cooperatives.
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Citation
U.S. Federal Reserve, Use of Financial Services Borrowers: Small and Medium Enterprises Borrowing from Credit Unions and Financial Cooperatives for Guinea (GINFCRODUSPENUM), retrieved from FRED.