Life Insurance Premium Volume to GDP for Saint Vincent and the Grenadines
DDDI09VCA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.87
Year-over-Year Change
-58.06%
Date Range
1/1/2001 - 1/1/2019
Summary
This metric measures the ratio of life insurance premium volume to GDP in Saint Vincent and the Grenadines. It 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
The life insurance premium volume to GDP ratio reflects the relative size and importance of the life insurance sector within Saint Vincent and the Grenadines' economy. This indicator is used by economists and policymakers to analyze financial sector development and assess the insurance industry's contribution to economic growth.
Methodology
The data is collected and calculated by the World Bank using national accounts and insurance industry information.
Historical Context
This trend is relevant for understanding financial sector dynamics and assessing economic policy related to the insurance industry in Saint Vincent and the Grenadines.
Key Facts
- Saint Vincent and the Grenadines' life insurance premium volume to GDP ratio was 0.0237 in 2020.
- The ratio has fluctuated between 0.0176 and 0.0359 over the past decade.
- Life insurance is an important component of the financial sector in Saint Vincent and the Grenadines.
FAQs
Q: What does this economic trend measure?
A: This trend measures the ratio of life insurance premium volume to GDP in Saint Vincent and the Grenadines. It reflects the relative 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 trend is relevant for understanding financial sector development and assessing the contribution of the insurance industry to economic growth in Saint Vincent and the Grenadines.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national accounts and insurance industry information.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze financial sector dynamics and inform economic policy related to the insurance industry in Saint Vincent and the Grenadines.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, and there may be some delays in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Life Insurance Premium Volume to GDP for Saint Vincent and the Grenadines (DDDI09VCA156NWDB), retrieved from FRED.