Use of Financial Services, Liabilities: Outstanding Deposits for Life Insurance at Insurance Corporations for Guinea
GINFCLOFILPXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
354,209,000,000.00
Year-over-Year Change
952.86%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding deposits for life insurance at insurance corporations in Guinea. It provides insight into the utilization of financial services and the level of life insurance activity 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 for Life Insurance at Insurance Corporations for Guinea trend represents the total value of deposits held by insurance companies for life insurance policies. This metric is used to assess the development and penetration of the life insurance market in Guinea.
Methodology
The data is collected by the Central Bank of Guinea and reported to the International Monetary Fund.
Historical Context
This trend is relevant for policymakers and financial analysts to gauge the depth of the insurance sector and financial inclusion in the Guinean economy.
Key Facts
- Guinea is a lower-income country in West Africa.
- The insurance sector in Guinea is relatively underdeveloped.
- Life insurance accounts for a small portion of financial services usage.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding deposits for life insurance policies held by insurance companies in Guinea.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the level of development and utilization of life insurance services in the Guinean economy, which is an important indicator of financial inclusion and the strength of the insurance sector.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Guinea and reported to the International Monetary Fund.
Q: How is this trend used in economic policy?
A: Policymakers and financial analysts use this trend to assess the depth of the insurance sector and gauge financial inclusion efforts in Guinea.
Q: Are there update delays or limitations?
A: The data may have update delays due to the challenges of data collection in a developing economy like Guinea.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits for Life Insurance at Insurance Corporations for Guinea (GINFCLOFILPXDC), retrieved from FRED.