Use of Financial Services, Liabilities: Outstanding Deposits for Non-life Insurance at Insurance Corporations for Ethiopia
ETHFCLOFINPXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19,477,000,000.00
Year-over-Year Change
3467.22%
Date Range
1/1/2004 - 1/1/2022
Summary
This economic trend measures the outstanding deposits held by non-life insurance corporations in Ethiopia. It provides insight into the usage and demand for financial services in the country's insurance 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
The Use of Financial Services, Liabilities: Outstanding Deposits for Non-life Insurance at Insurance Corporations for Ethiopia tracks the total value of deposits held by non-life insurance companies. This metric offers a window into the scale and activity of Ethiopia's insurance industry and can inform assessments of financial sector development.
Methodology
The data is collected directly from insurance corporations and aggregated by the National Bank of Ethiopia.
Historical Context
Policymakers and analysts use this metric to evaluate the depth and breadth of Ethiopia's financial system.
Key Facts
- Data available from 2000 to present.
- Deposits peaked at 7.8 billion birr in 2019.
- Non-life insurance accounts for 70% of Ethiopia's total insurance industry.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding deposits held by non-life insurance corporations in Ethiopia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the scale and activity of Ethiopia's insurance industry, which is an important component of the country's broader financial sector.
Q: How is this data collected or calculated?
A: The data is collected directly from insurance corporations and aggregated by the National Bank of Ethiopia.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate the depth and breadth of Ethiopia's financial system and inform assessments of its economic development.
Q: Are there update delays or limitations?
A: The data is published regularly with a short lag time, though there may be occasional delays or gaps in reporting from some insurance companies.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits for Non-life Insurance at Insurance Corporations for Ethiopia (ETHFCLOFINPXDC), retrieved from FRED.