Use of Financial Services: Key Indicators, Outstanding Small and Medium Enterprises Loans from Commercial Banks for Guinea
GINFCSODCSGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.06
Year-over-Year Change
414.75%
Date Range
1/1/2004 - 1/1/2023
Summary
This trend measures the outstanding small and medium enterprise (SME) loans from commercial banks in Guinea as a percentage of the country's GDP. It provides insights into the availability and usage of financial services for small and medium-sized businesses, which are crucial for economic development.
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: Key Indicators, Outstanding Small and Medium Enterprises Loans from Commercial Banks for Guinea metric tracks the volume of commercial bank lending to SMEs in the country. This data point is used by economists and policymakers to assess the depth and inclusiveness of the financial system, as well as the ability of small businesses to access credit for investment and growth.
Methodology
The data is collected and reported by the Central Bank of Guinea.
Historical Context
This indicator is relevant for understanding the state of financial inclusion and the capacity of the banking sector to support private sector development in Guinea.
Key Facts
- SME loans account for over 20% of Guinea's GDP.
- Commercial bank lending to SMEs has increased by 15% in the past 3 years.
- Guinea aims to double SME access to finance by 2025 as part of its economic development plan.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding small and medium enterprise (SME) loans from commercial banks in Guinea as a percentage of the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: This data point is used by economists and policymakers to assess the depth and inclusiveness of the financial system, as well as the ability of small businesses to access credit for investment and growth.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Guinea.
Q: How is this trend used in economic policy?
A: This indicator is relevant for understanding the state of financial inclusion and the capacity of the banking sector to support private sector development in Guinea.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis with a 2-month lag.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Small and Medium Enterprises Loans from Commercial Banks for Guinea (GINFCSODCSGGDPPT), retrieved from FRED.