Life Insurance Premium Volume to GDP for Croatia
DDDI09HRA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.71
Year-over-Year Change
-2.98%
Date Range
1/1/1994 - 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 sector development and financial inclusion.
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 indicator provides insight into the relative importance and penetration of the life insurance industry within the broader economy.
Methodology
The data is calculated by the World Bank using official insurance industry statistics and GDP figures.
Historical Context
Policymakers often monitor this metric to gauge the depth and maturity of a country's financial system and identify opportunities for financial sector growth.
Key Facts
- Croatia's life insurance premium volume to GDP ratio was 2.7% in 2020.
- This ratio has increased from 1.8% in 2010, indicating growth in the insurance industry.
- The global average life insurance premium to GDP ratio is around 3.3%.
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 depth and maturity of a country's financial system and can help identify opportunities for financial sector growth.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using official insurance industry statistics and GDP figures.
Q: How is this trend used in economic policy?
A: Policymakers often monitor this metric to gauge the development of the financial sector and formulate policies to promote insurance market growth.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank with a slight delay, typically 1-2 years behind the current year.
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Citation
U.S. Federal Reserve, Life Insurance Premium Volume to GDP for Croatia (DDDI09HRA156NWDB), retrieved from FRED.