Use of Financial Services Deposit Accounts: Accounts at Insurance Corporations for Guinea
GINFCAOFINUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
443,975.00
Year-over-Year Change
396.72%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the use of financial services deposit accounts held at insurance corporations in Guinea. It provides insights into the level of financial inclusion and access to formal banking services 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 Deposit Accounts: Accounts at Insurance Corporations for Guinea metric tracks the total value of deposit accounts held at insurance companies by individuals and businesses in the West African nation of Guinea. This data point is used by economists and policymakers to assess the depth of the financial system and gauge financial inclusion.
Methodology
The data is collected through surveys and reporting from insurance companies operating in Guinea.
Historical Context
This trend is relevant for evaluating the development of Guinea's financial sector and informing policies aimed at expanding access to formal banking services.
Key Facts
- Guinea is a lower-income country in West Africa.
- Access to formal banking services remains limited in the country.
- Deposit accounts at insurance companies are an important source of financial services.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of deposit accounts held at insurance companies by individuals and businesses in Guinea. It provides insights into financial inclusion and access to formal banking services in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for economists and policymakers seeking to understand the depth of Guinea's financial system and evaluate efforts to expand access to formal banking services.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reporting from insurance companies operating in Guinea.
Q: How is this trend used in economic policy?
A: This trend is used to inform policies and programs aimed at increasing financial inclusion and developing Guinea's financial sector.
Q: Are there update delays or limitations?
A: The data may be subject to reporting lags and may not fully capture all deposit accounts held at insurance companies in Guinea.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Insurance Corporations for Guinea (GINFCAOFINUM), retrieved from FRED.