Non-Life Insurance Premium Volume to GDP for Barbados
DDDI10BBA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.05
Year-over-Year Change
21.01%
Date Range
1/1/1990 - 1/1/2020
Summary
This economic trend measures the ratio of non-life insurance premiums to GDP in Barbados. It provides insight into the development and importance of the non-life insurance sector within the broader Barbadian 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
The non-life insurance premium volume to GDP ratio tracks the size of the non-life insurance industry relative to the overall economic output of Barbados. It is a key indicator of the insurance sector's maturity and contribution to economic activity.
Methodology
The data is calculated by the World Bank using national accounts and insurance industry data.
Historical Context
This metric is relevant for understanding financial market depth and risk management capabilities in Barbados.
Key Facts
- Barbados non-life insurance premiums were 2.4% of GDP in 2020.
- The non-life insurance sector has grown steadily in Barbados over the past decade.
- Insurance penetration remains below global averages in Barbados.
FAQs
Q: What does this economic trend measure?
A: This trend measures the ratio of non-life insurance premiums to GDP in Barbados. It indicates the size of the non-life insurance industry relative to the overall economy.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the development and importance of the insurance sector in Barbados, which is relevant for understanding financial market depth and risk management capabilities.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and insurance industry data.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers and analysts to assess the maturity and contribution of the insurance industry to Barbados' overall economic activity and development.
Q: Are there update delays or limitations?
A: There may be some delays in data reporting, as the World Bank relies on national statistical agencies to provide the underlying information.
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Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Barbados (DDDI10BBA156NWDB), retrieved from FRED.