Use of Financial Services: Number of Life Insurance Depositors at Insurance Corporations for Albania
ALBFCDOFILPPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
152,740.00
Year-over-Year Change
76.87%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the number of life insurance depositors at insurance corporations in Albania. It provides insight into the utilization of financial services and the insurance industry's reach within the Albanian economy.
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: Number of Life Insurance Depositors at Insurance Corporations for Albania' metric tracks the total number of individuals who have active life insurance policies with insurance companies operating in Albania. This indicator offers valuable data on the level of financial inclusion and the insurance market's penetration within the country.
Methodology
The data is collected through surveys and reports from Albania's insurance regulatory authorities.
Historical Context
This trend is relevant for policymakers and economists analyzing the development of Albania's insurance and financial sectors.
Key Facts
- Albania has a population of approximately 2.8 million people.
- The insurance industry accounts for around 1% of Albania's GDP.
- Life insurance remains a relatively underdeveloped segment of the Albanian financial sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of individuals in Albania who have active life insurance policies with insurance companies operating in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the level of financial inclusion and the penetration of the insurance market within the Albanian economy, which is useful for policymakers and economists analyzing the development of the country's financial sector.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reports from Albania's insurance regulatory authorities.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers and economists analyzing the growth and evolution of Albania's insurance and financial services industries, which can inform policy decisions and market strategies.
Q: Are there update delays or limitations?
A: The data may be subject to reporting delays or limitations in data collection, as it relies on regulatory authorities in Albania.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Life Insurance Depositors at Insurance Corporations for Albania (ALBFCDOFILPPENUM), retrieved from FRED.