Life Insurance Premium Volume to GDP for Barbados
DDDI09BBA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.77
Year-over-Year Change
2791.79%
Date Range
1/1/1990 - 1/1/2020
Summary
The life insurance premium volume to GDP ratio measures the size of a country's life insurance industry relative to its overall economic output. This metric is important for economists and policymakers to assess financial development and insurance market penetration.
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 life insurance premium volume to GDP ratio represents the total value of life insurance premiums paid in a country as a percentage of its gross domestic product. This provides insight into the relative importance of the life insurance industry within the broader economy.
Methodology
This data is collected by the World Bank from national statistical offices and regulatory authorities.
Historical Context
Economists and financial regulators use this ratio to evaluate insurance market maturity and the role of life insurance in a country's financial system.
Key Facts
- Barbados life insurance premium volume was 2.4% of GDP in 2020.
- The ratio peaked at 3.3% in 2001 before declining.
- Barbados has one of the highest life insurance penetration rates in the Caribbean region.
FAQs
Q: What does this economic trend measure?
A: The life insurance premium volume to GDP ratio measures the size of a country's life insurance industry relative to its overall economic output.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the importance of life insurance within a country's financial system and can indicate the level of financial development.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank from national statistical offices and regulatory authorities.
Q: How is this trend used in economic policy?
A: Economists and financial regulators use this ratio to evaluate insurance market maturity and the role of life insurance in a country's financial system.
Q: Are there update delays or limitations?
A: The data may have delays in reporting due to collection from national sources.
Related Trends
Bank's Overhead Costs to Total Assets for Barbados
DDEI04BBA156NWDB
Value of Exports to Barbados from Massachusetts
MABRBA052SCEN
Use of Financial Services, Liabilities: Outstanding Deposits at Commercial Banks for Barbados
BRBFCLODCXDC
Number of Identified Exporters to Barbados from Colorado
COBRBA475SCEN
Number of Identified Exporters to Barbados from Kansas
KSBRBA475SCEN
Number of Identified Exporters to Barbados from Oregon
ORBRBA475SCEN
Citation
U.S. Federal Reserve, Life Insurance Premium Volume to GDP for Barbados (DDDI09BBA156NWDB), retrieved from FRED.