Life Insurance Premium Volume to GDP for Bangladesh
DDDI09BDA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.38
Year-over-Year Change
-34.65%
Date Range
1/1/1990 - 1/1/2019
Summary
The 'Life Insurance Premium Volume to GDP for Bangladesh' trend measures the ratio of life insurance premium volume to the country's gross domestic product, providing insights into the role of the life insurance industry in the Bangladeshi 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 economic indicator tracks the size and importance of the life insurance sector in Bangladesh relative to the overall economy. It is used by economists and policymakers to assess the development and penetration of the life insurance market and its contribution to economic growth.
Methodology
The data is compiled by the World Bank from national accounts and insurance industry sources.
Historical Context
This metric is relevant for understanding financial sector development and the insurance industry's role in supporting economic activity and household risk management.
Key Facts
- Bangladesh's life insurance premium volume was 0.59% of GDP in 2020.
- The life insurance industry in Bangladesh has grown rapidly in recent decades.
- Increasing life insurance penetration is a policy goal for promoting financial inclusion.
FAQs
Q: What does this economic trend measure?
A: This trend measures the ratio of life insurance premium volume to the gross domestic product (GDP) of Bangladesh, providing insights into the size and importance of the life insurance industry in the country's economy.
Q: Why is this trend relevant for users or analysts?
A: This metric is relevant for understanding the development and penetration of the life insurance market in Bangladesh, as well as its contribution to economic growth and household risk management.
Q: How is this data collected or calculated?
A: The data is compiled by the World Bank from national accounts and insurance industry sources.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to assess the role of the insurance industry in supporting economic activity and to inform policies aimed at promoting financial inclusion and sector development.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, so there may be a delay of up to a year or more in the most recent figures being available.
Related Trends
Use of Financial Services: Number of Deposit Accounts at Deposit Taking Microfinance Institutions (MFIs) for Bangladesh
BGDFCAODMFNUM
Mutual Fund Assets to GDP for Bangladesh
DDDI07BDA156NWDB
Geographical Outreach, Mobile Banking: Registered Number of Agent Outlets for Bangladesh
BGDFCMORNUM
Bank Z-Score for Bangladesh
DDSI01BDA645NWDB
Number of Identified Exporters to Bangladesh from Vermont
VTBGDA475SCEN
Bank's Non-Interest Income to Total Income for Bangladesh
DDEI03BDA156NWDB
Citation
U.S. Federal Reserve, Life Insurance Premium Volume to GDP for Bangladesh (DDDI09BDA156NWDB), retrieved from FRED.