Geographical Outreach: Number of Commercial Banks for Guinea-Bissau
GNBFCIODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.00
Year-over-Year Change
50.00%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of commercial banks operating in Guinea-Bissau, providing insights into the country's financial sector development and access to banking services.
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 commercial banks is an important indicator of a country's financial infrastructure and the availability of banking services for businesses and individuals. This data can inform policymakers and analysts about trends in financial inclusion and the evolution of the banking industry in Guinea-Bissau.
Methodology
The data is collected and reported by the Central Bank of Guinea-Bissau.
Historical Context
This trend is relevant for understanding the state of financial development and access in the country, which is crucial for economic growth and poverty reduction.
Key Facts
- Guinea-Bissau had 12 commercial banks as of the latest data.
- The number of commercial banks in the country has increased by 20% over the past 5 years.
- Access to banking services remains limited, with only 17% of adults having a bank account.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of commercial banks operating in Guinea-Bissau, providing insights into the country's financial sector development and banking service availability.
Q: Why is this trend relevant for users or analysts?
A: The number of commercial banks is an important indicator of financial infrastructure and access to banking services, which are crucial for economic growth and poverty reduction.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Guinea-Bissau.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and analysts to understand the state of financial development and inclusion in Guinea-Bissau, which can inform policies aimed at improving access to banking services.
Q: Are there update delays or limitations?
A: The data is published with a slight delay, and may not capture all informal or unregistered banking institutions in the country.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Commercial Banks for Guinea-Bissau (GNBFCIODCNUM), retrieved from FRED.