Use of Financial Services Deposit Accounts: Life Insurance Accounts at Insurance Corporations for Guinea
GINFCAOFILPNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
235,047.00
Year-over-Year Change
1083.04%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the use of life insurance accounts at insurance corporations in Guinea. It provides insights into the financial services and deposit account activity within the country's insurance industry.
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 Deposit Accounts: Life Insurance Accounts at Insurance Corporations for Guinea trend tracks the value of life insurance accounts held at insurance companies in the West African nation of Guinea. This metric offers a window into the savings, investment, and risk management behaviors of Guinea's insurance sector participants.
Methodology
The data is collected by the U.S. Federal Reserve through surveys of insurance corporations operating in Guinea.
Historical Context
This trend is used by economists and policymakers to monitor the development of Guinea's insurance and financial services market.
Key Facts
- Guinea is a low-income country in West Africa.
- The insurance industry in Guinea is underdeveloped compared to other African nations.
- Life insurance accounts make up a small fraction of total deposit accounts in Guinea.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value of life insurance accounts held at insurance corporations operating in the West African country of Guinea.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the development and utilization of financial services, particularly insurance, in the Guinean market, which is important for economists and policymakers studying the country's economic growth and financial inclusion.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Federal Reserve through surveys of insurance companies operating in Guinea.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to monitor the growth and penetration of the insurance industry in Guinea, which is relevant for assessing the country's overall financial services development and economic stability.
Q: Are there update delays or limitations?
A: There may be delays in data reporting and availability due to the challenges of collecting information from a developing insurance market in Guinea.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Life Insurance Accounts at Insurance Corporations for Guinea (GINFCAOFILPNUM), retrieved from FRED.