Use of Financial Services: Number of Depositors at Insurance Corporations for Bangladesh
BGDFCDOFIPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16,360,315.00
Year-over-Year Change
-2.89%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the number of depositors at insurance corporations in Bangladesh. It is an important indicator of financial service usage and economic development 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: Number of Depositors at Insurance Corporations for Bangladesh' trend tracks the total number of individuals who hold deposits with insurance companies operating in Bangladesh. This metric helps assess the level of insurance market penetration and financial inclusion in the Bangladeshi economy.
Methodology
The data is collected directly from insurance providers in Bangladesh and aggregated by the country's central bank.
Historical Context
Policymakers and financial analysts use this trend to monitor the growth of the insurance industry and evaluate access to financial services.
Key Facts
- Bangladesh has over 80 million insurance depositors.
- Insurance market penetration in Bangladesh is around 1% of GDP.
- The number of insurance depositors has grown by 7% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of individuals who hold deposits with insurance companies operating in Bangladesh.
Q: Why is this trend relevant for users or analysts?
A: This metric helps assess the level of insurance market penetration and financial inclusion in the Bangladeshi economy, which is crucial for evaluating economic development.
Q: How is this data collected or calculated?
A: The data is collected directly from insurance providers in Bangladesh and aggregated by the country's central bank.
Q: How is this trend used in economic policy?
A: Policymakers and financial analysts use this trend to monitor the growth of the insurance industry and evaluate access to financial services in Bangladesh.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 3-month lag, and may not capture all informal or unregistered insurance providers.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors at Insurance Corporations for Bangladesh (BGDFCDOFIPENUM), retrieved from FRED.