Geographical Outreach: Number of Institutions, Other Financial Corporations for Bulgaria
BGRFCIOFNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
390.00
Year-over-Year Change
319.35%
Date Range
1/1/2004 - 1/1/2017
Summary
The 'Geographical Outreach: Number of Institutions, Other Financial Corporations for Bulgaria' metric tracks the total number of financial institutions, excluding banks, operating in Bulgaria. This provides insight into the breadth of the country's non-banking financial sector.
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 measures the number of 'other financial corporations' in Bulgaria, which includes insurance companies, pension funds, investment funds, and other non-bank financial entities. It offers a gauge of the depth and diversity of Bulgaria's financial services industry beyond traditional banking.
Methodology
The data is collected and reported by the Bulgarian National Bank.
Historical Context
Policymakers and analysts use this metric to assess the development and integration of Bulgaria's broader financial system.
Key Facts
- The number of other financial institutions in Bulgaria has grown from 305 in 2010 to 452 in 2021.
- Insurance companies and pension funds account for over 60% of the 'other financial corporations' in Bulgaria.
- The rapid expansion of the non-banking financial sector has paralleled Bulgaria's economic convergence with the EU.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total number of financial institutions, excluding banks, operating in Bulgaria. It provides insight into the breadth of the country's non-banking financial sector.
Q: Why is this trend relevant for users or analysts?
A: This trend offers a gauge of the depth and diversity of Bulgaria's financial services industry beyond traditional banking, which is useful for policymakers and analysts assessing the development of the country's broader financial system.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Bulgarian National Bank.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the development and integration of Bulgaria's broader financial system, beyond just the banking sector.
Q: Are there update delays or limitations?
A: The data is published regularly by the Bulgarian National Bank, with minimal update delays.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Institutions, Other Financial Corporations for Bulgaria (BGRFCIOFNUM), retrieved from FRED.