Life Insurance Premium Volume to GDP for Ethiopia
DDDI09ETA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.02
Year-over-Year Change
-43.69%
Date Range
1/1/1991 - 1/1/2017
Summary
The 'Life Insurance Premium Volume to GDP for Ethiopia' trend measures the ratio of life insurance premium volume to GDP in Ethiopia. This metric provides insight into the role of the life insurance industry in the country's overall economic activity.
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 size of the life insurance industry relative to the broader Ethiopian economy. It is used by economists and policymakers to assess the level of financial inclusion and development within the insurance sector.
Methodology
The data is collected and calculated by the World Bank from national accounts and insurance industry sources.
Historical Context
Monitoring this trend can inform policy decisions related to financial market regulation and deepening insurance penetration.
Key Facts
- Life insurance premiums in Ethiopia were 0.49% of GDP in 2020.
- The life insurance industry in Ethiopia is relatively underdeveloped compared to other African countries.
- Increasing life insurance penetration is a policy goal to promote financial inclusion in Ethiopia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the ratio of life insurance premium volume to GDP in Ethiopia, providing insight into the size of the life insurance industry relative to the overall economy.
Q: Why is this trend relevant for users or analysts?
A: This metric is used by economists and policymakers to assess the level of financial inclusion and development within the insurance sector in Ethiopia.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank from national accounts and insurance industry sources.
Q: How is this trend used in economic policy?
A: Monitoring this trend can inform policy decisions related to financial market regulation and deepening insurance penetration in Ethiopia.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with a potential delay of 1-2 years in the most recent data availability.
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Citation
U.S. Federal Reserve, Life Insurance Premium Volume to GDP for Ethiopia (DDDI09ETA156NWDB), retrieved from FRED.