Use of Financial Services: Number of Depositors which are Small and Medium Enterprises at Commercial Banks for Guinea-Bissau
GNBFCDODCSPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,267.00
Year-over-Year Change
230.22%
Date Range
1/1/2004 - 1/1/2013
Summary
This economic trend measures the number of small and medium enterprises (SMEs) that are depositors at commercial banks in Guinea-Bissau. It provides insight into SMEs' access to and usage of formal financial services, a key indicator of financial inclusion.
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 Commercial Banks for Guinea-Bissau' series tracks the total number of SME depositors at commercial banks in the country. This metric is used to assess the level of financial intermediation and integration of SMEs into the formal banking system.
Methodology
The data is collected by the Central Bank of Guinea-Bissau through reports from domestic commercial banks.
Historical Context
This trend is relevant for policymakers and development institutions seeking to monitor financial inclusion and support SME growth in the Guinean economy.
Key Facts
- Guinea-Bissau is a lower-income country in West Africa.
- SMEs account for over 90% of businesses in the country.
- Improving SME access to banking is a key policy priority.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of small and medium enterprises (SMEs) that have deposit accounts at commercial banks in Guinea-Bissau.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the level of financial inclusion and integration of SMEs into the formal banking system in Guinea-Bissau, which is important for assessing economic development and growth prospects.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Guinea-Bissau through reports from domestic commercial banks.
Q: How is this trend used in economic policy?
A: Policymakers and development institutions use this trend to monitor financial inclusion and support initiatives aimed at expanding SME access to banking services in Guinea-Bissau.
Q: Are there update delays or limitations?
A: The data may be subject to occasional delays in reporting from commercial banks to the central bank.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors which are Small and Medium Enterprises at Commercial Banks for Guinea-Bissau (GNBFCDODCSPENUM), retrieved from FRED.