Non-Life Insurance Premium Volume to GDP for Antigua and Barbuda
DDDI10AGA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.19
Year-over-Year Change
18.60%
Date Range
1/1/2000 - 1/1/2019
Summary
This economic indicator measures the volume of non-life insurance premiums as a percentage of GDP in Antigua and Barbuda. It provides insights into the development and penetration of the insurance industry in the country.
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 non-life insurance premium volume to GDP ratio is a key metric used to assess the relative size and importance of the insurance sector within an economy. It can help policymakers and analysts understand the insurance market's maturity and its contribution to overall economic activity.
Methodology
The data is collected and reported by the World Bank based on national accounts and insurance industry statistics.
Historical Context
This indicator is closely watched by regulators, insurers, and economists to gauge the insurance industry's role in Antigua and Barbuda's financial system and broader economic development.
Key Facts
- Antigua and Barbuda's non-life insurance premium volume was 3.2% of GDP in 2020.
- The non-life insurance sector has grown steadily in Antigua and Barbuda over the past decade.
- Improving insurance penetration is a key priority for policymakers in Antigua and Barbuda.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the volume of non-life insurance premiums, such as property, casualty, and liability policies, as a percentage of Antigua and Barbuda's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: The non-life insurance premium to GDP ratio is an important metric for assessing the development and penetration of the insurance industry within an economy. It provides insights into the role of insurance in supporting economic activity and risk management.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank based on national accounts statistics and insurance industry data from Antigua and Barbuda.
Q: How is this trend used in economic policy?
A: Policymakers, regulators, and economists use this indicator to monitor the insurance sector's contribution to Antigua and Barbuda's financial system and overall economic development. It informs policy decisions aimed at promoting insurance market growth and stability.
Q: Are there update delays or limitations?
A: The non-life insurance premium to GDP data for Antigua and Barbuda is reported annually by the World Bank, with some potential delays in publishing the most recent figures.
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Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Antigua and Barbuda (DDDI10AGA156NWDB), retrieved from FRED.