Geographical Outreach: Number of Institutions, Other Financial Corporations for Solomon Islands
SLBFCIOFNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.00
Year-over-Year Change
20.00%
Date Range
1/1/2004 - 1/1/2017
Summary
The 'Geographical Outreach: Number of Institutions, Other Financial Corporations for Solomon Islands' trend measures the total number of non-bank financial institutions operating in the Solomon Islands. This data provides insights into the breadth of the country's financial services ecosystem.
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
This series tracks the number of 'other financial corporations' - which includes insurance companies, pension funds, and other non-bank financial intermediaries - that are active in the Solomon Islands. It offers a high-level indicator of financial sector development and access to diversified financial services in the country.
Methodology
The data is collected and reported by the Central Bank of Solomon Islands.
Historical Context
Policymakers and economists use this metric to assess the depth and growth of the Solomon Islands' financial system.
Key Facts
- The number of other financial corporations in Solomon Islands reached 31 in 2021.
- The financial sector in Solomon Islands is largely bank-based, with non-bank institutions playing a smaller but growing role.
- Increasing the reach and diversity of financial services is a key development priority for the Solomon Islands government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of non-bank financial institutions, such as insurance companies and pension funds, that are operating in the Solomon Islands.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the breadth and development of the Solomon Islands' financial services sector beyond just commercial banks, which is important for assessing overall financial inclusion and economic growth potential.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Solomon Islands.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to monitor the depth and diversity of the Solomon Islands' financial system, which is a key driver of sustainable economic development.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not capture the most recent changes in the number of non-bank financial institutions operating in the Solomon Islands.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Institutions, Other Financial Corporations for Solomon Islands (SLBFCIOFNUM), retrieved from FRED.