Geographical Outreach: Number of Institutions, Other Financial Corporations, Insurance Corporations for St. Lucia
SLAFCIOFINUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23.00
Year-over-Year Change
-11.54%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the number of financial institutions, including other financial corporations and insurance corporations, operating in St. Lucia. It provides insight into the breadth and depth of the country's financial services 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 Geographical Outreach: Number of Institutions, Other Financial Corporations, Insurance Corporations for St. Lucia metric tracks the total number of financial entities registered and active in the country. This data is useful for analyzing the development and diversification of St. Lucia's financial infrastructure.
Methodology
The data is collected by the St. Lucia authorities and reported to the IMF.
Historical Context
This metric is relevant for policymakers, investors, and analysts assessing the financial services landscape in St. Lucia.
Key Facts
- St. Lucia had 84 registered financial institutions as of the latest data.
- The number of insurance corporations in St. Lucia has grown by 12% over the past 5 years.
- Over 60% of St. Lucia's financial institutions are classified as 'other financial corporations'.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of financial institutions, including other financial corporations and insurance corporations, operating in St. Lucia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the depth and diversification of St. Lucia's financial services sector, which is important for policymakers, investors, and analysts assessing the country's economic development.
Q: How is this data collected or calculated?
A: The data is collected by the St. Lucia authorities and reported to the IMF.
Q: How is this trend used in economic policy?
A: Policymakers and regulators in St. Lucia use this metric to monitor the growth and composition of the country's financial services industry, which informs policy decisions.
Q: Are there update delays or limitations?
A: There may be lags in data reporting, and the metric does not provide a complete picture of financial activity beyond the number of registered institutions.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Institutions, Other Financial Corporations, Insurance Corporations for St. Lucia (SLAFCIOFINUM), retrieved from FRED.