Use of Financial Services, Liabilities: Outstanding Deposits at Insurance Corporations for Ethiopia
ETHFCLOFIXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19,477,000,000.00
Year-over-Year Change
2842.15%
Date Range
1/1/2004 - 1/1/2022
Summary
This economic trend measures the outstanding deposits held at insurance corporations in Ethiopia. It provides insight into the use of financial services and the deposit-taking activities of the insurance sector in the country.
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, Liabilities: Outstanding Deposits at Insurance Corporations for Ethiopia series tracks the total value of deposits held by insurance companies in the Ethiopian financial system. This metric offers a window into the insurance industry's role as a collector and holder of household and business savings.
Methodology
The data is collected and reported by the National Bank of Ethiopia.
Historical Context
This trend is relevant for analyzing the depth and development of Ethiopia's insurance and financial sectors.
Key Facts
- Ethiopia's insurance sector held over $2 billion in deposits as of the latest data.
- Deposit-taking is a key function of insurance companies alongside risk pooling and underwriting.
- The growth of insurance deposits reflects increased financial inclusion and mobilization of household savings.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding deposits held at insurance corporations in Ethiopia. It provides insight into the deposit-taking activities and role of the insurance industry in the country's financial system.
Q: Why is this trend relevant for users or analysts?
A: This metric is relevant for understanding the depth and development of Ethiopia's insurance and broader financial sectors. It offers insights into how insurance companies are mobilizing household and business savings.
Q: How is this data collected or calculated?
A: The data is collected and reported by the National Bank of Ethiopia, the country's central banking authority.
Q: How is this trend used in economic policy?
A: Policymakers and analysts can use this data to monitor the growth and activities of Ethiopia's insurance industry, which is a key component of the broader financial system and economy.
Q: Are there update delays or limitations?
A: There may be lags in data reporting and publication by the National Bank of Ethiopia. Users should check for the latest available information.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits at Insurance Corporations for Ethiopia (ETHFCLOFIXDC), retrieved from FRED.