Use of Financial Services Deposit Accounts: Accounts at Insurance Corporations for Saudi Arabia
SAUFCAOFINUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,747,616.00
Year-over-Year Change
106.51%
Date Range
1/1/2007 - 1/1/2023
Summary
This economic trend measures the use of financial services deposit accounts held at insurance corporations in Saudi Arabia. It provides valuable insights into the financial behavior and preferences of Saudi consumers.
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 Saudi Arabia' series tracks the value of deposit accounts maintained with insurance companies by individuals and businesses in Saudi Arabia. This metric offers a window into the country's financial sector development and evolving consumer financial habits.
Methodology
The data is collected by the Saudi Arabian Monetary Authority (SAMA) through reports from licensed insurance companies operating in the Kingdom.
Historical Context
This trend is closely monitored by policymakers, regulators, and economists to understand Saudi Arabia's financial inclusion and the insurance industry's role in mobilizing domestic savings.
Key Facts
- Saudi Arabia has one of the largest insurance markets in the Gulf Cooperation Council (GCC) region.
- Deposit accounts at insurance firms constitute an important component of the country's financial system.
- The trend has shown steady growth in recent years, reflecting increasing financial intermediation.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value of deposit accounts held by individuals and businesses with insurance companies operating in Saudi Arabia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the financial behavior and preferences of Saudi consumers, as well as the role of the insurance industry in mobilizing domestic savings.
Q: How is this data collected or calculated?
A: The data is collected by the Saudi Arabian Monetary Authority (SAMA) through reports from licensed insurance companies in the Kingdom.
Q: How is this trend used in economic policy?
A: Policymakers, regulators, and economists monitor this trend to understand Saudi Arabia's financial inclusion and the insurance industry's contribution to the country's financial system.
Q: Are there update delays or limitations?
A: The data is updated regularly by SAMA, and there are no known significant delays or limitations in its reporting.
Related Trends
Number of Identified Exporters to Saudi Arabia from New Hampshire
NHSAUA475SCEN
Amount Outstanding of Total Debt Securities for All Issuers, All Maturities, Residence of Issuer in Saudi Arabia
TDSAMRIAOAISA
Balance of Payments: Reserve Assets: Assets (or Net Acquisition of Assets) for Saudi Arabia
SAUB6FARA01CXCUQ
Projection of General government gross debt for Saudi Arabia
GGGDTPSAA188N
Use of Financial Services Borrowers: Persons Borrowing from Commercial Banks for Saudi Arabia
SAUFCRODCPENUM
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Total for Saudi Arabia
SAUCPALTT01IXOBM
Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Insurance Corporations for Saudi Arabia (SAUFCAOFINUM), retrieved from FRED.