Life Insurance Premium Volume to GDP for Aruba
DDDI09AWA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.69
Year-over-Year Change
29.71%
Date Range
1/1/2001 - 1/1/2020
Summary
The 'Life Insurance Premium Volume to GDP for Aruba' series measures the ratio of life insurance premiums to GDP in Aruba. This metric provides insight into the size and importance of the life insurance industry relative to the overall economy.
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 indicator represents the volume of life insurance premiums collected in Aruba as a percentage of the country's Gross Domestic Product. It is used by economists and policymakers to assess the financial health and development of Aruba's insurance sector and its integration with the broader economy.
Methodology
The data is calculated by the World Bank using reported insurance premium figures and GDP statistics.
Historical Context
Trends in this metric can inform discussions around financial sector regulation, consumer access to insurance products, and the role of life insurance in Aruba's economic stability and growth.
Key Facts
- Aruba's life insurance premium volume was 1.4% of GDP in 2020.
- The ratio has remained relatively stable over the past decade.
- Life insurance is an important component of Aruba's financial services industry.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the volume of life insurance premiums collected in Aruba as a percentage of the country's Gross Domestic Product.
Q: Why is this trend relevant for users or analysts?
A: Trends in this metric provide insight into the size and importance of Aruba's life insurance industry relative to the overall economy, which is useful for assessing financial sector development and stability.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using reported insurance premium figures and GDP statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists may use this metric to inform discussions around financial sector regulation, consumer access to insurance products, and the role of life insurance in Aruba's economic stability and growth.
Q: Are there update delays or limitations?
A: The data is subject to the reporting timelines and methodologies of the World Bank, which may result in periodic update lags or potential revisions to historical figures.
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Citation
U.S. Federal Reserve, Life Insurance Premium Volume to GDP for Aruba (DDDI09AWA156NWDB), retrieved from FRED.