Life Insurance Premium Volume to GDP for Hong Kong SAR, China
DDDI09HKA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19.40
Year-over-Year Change
104.50%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'Life Insurance Premium Volume to GDP for Hong Kong SAR, China' metric measures the ratio of total life insurance premiums to the country's gross domestic product. This indicator provides insight into the relative importance of the life insurance industry within Hong Kong's 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 metric represents the size of the life insurance sector compared to the overall economic output of Hong Kong. It is used by economists and policymakers to analyze the development and penetration of the life insurance market, which is an important component of a diversified financial system.
Methodology
The data is collected and reported by the World Bank based on submissions from Hong Kong's insurance and economic regulatory authorities.
Historical Context
This trend is relevant for understanding the role of life insurance in Hong Kong's financial markets and the potential for further growth or diversification.
Key Facts
- Hong Kong has one of the most developed life insurance markets globally.
- The life insurance industry contributes significantly to Hong Kong's financial services sector.
- The life insurance premium to GDP ratio has remained relatively stable in recent years.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total volume of life insurance premiums collected in Hong Kong as a percentage of the country's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: The life insurance premium to GDP ratio provides insight into the relative importance of the life insurance industry within Hong Kong's economy, which is useful for financial analysts and policymakers.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank based on submissions from Hong Kong's insurance and economic regulatory authorities.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to analyze the development and penetration of the life insurance market, which is an important component of a diversified financial system.
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 in the most recent figures.
Related Trends
Outstanding International Private Debt Securities to GDP for Hong Kong SAR, China
DDDM05HKA156NWDB
Geographical Outreach: Number of Branches, Excluding Headquarters, for Other Depository Corporations for China, P.R.: Hong Kong
HKGFCBODNUM
Number of Identified Exporters to Hong Kong from Idaho
IDHKGA475SCEN
Private Credit by Deposit Money Banks to GDP for Hong Kong SAR, China
DDDI01HKA156NWDB
Value of Exports to Hong Kong from Alabama
ALHKGA052SCEN
Use of Financial Services, Liabilities: Outstanding Deposits at Insurance Corporations for China, P.R.: Hong Kong
HKGFCLOFIXDC
Citation
U.S. Federal Reserve, Life Insurance Premium Volume to GDP for Hong Kong SAR, China (DDDI09HKA156NWDB), retrieved from FRED.