Non-Life Insurance Premium Volume to GDP for Bangladesh
DDDI10BDA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.19
Year-over-Year Change
-4.63%
Date Range
1/1/1990 - 1/1/2019
Summary
The Non-Life Insurance Premium Volume to GDP for Bangladesh metric tracks the proportion of a country's economic output that is attributable to non-life insurance premiums. This provides insight into the relative importance of the non-life insurance industry in the broader 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 total value of non-life insurance premiums as a percentage of the country's Gross Domestic Product (GDP). It is a key indicator of the development and penetration of the non-life insurance market within an economy.
Methodology
The data is collected and calculated by the World Bank based on national accounts and insurance industry statistics.
Historical Context
Policymakers and analysts use this metric to assess the financial maturity and protection coverage of a country's economy.
Key Facts
- Bangladesh's non-life insurance premium volume was 0.47% of GDP in 2020.
- The non-life insurance sector has grown steadily in Bangladesh over the past decade.
- Insurance penetration remains low compared to other developing economies in the region.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total value of non-life insurance premiums in Bangladesh as a percentage of the country'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 indicator of the development and penetration of the insurance industry within a country's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on national accounts and insurance industry statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the financial maturity and protection coverage of a country's economy, which informs policy decisions.
Q: Are there update delays or limitations?
A: There may be some delay in the availability of the most recent data, as it is dependent on the reporting cycles of national statistical agencies.
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MDBGDA052SCEN
Fiscal Situation of General Government: Net Lending/borrowing for Bangladesh
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Use of Financial Services: Number of Life Insurance Depositors at Insurance Corporations for Bangladesh
BGDFCDOFILPPENUM
Use of Financial Services, Liabilities: Outstanding Deposits by Small and Medium Enterprises at Other Deposit Takers for Bangladesh
BGDFCLODDSXDC
Use of Financial Services Deposit Accounts: Accounts at Insurance Corporations for Bangladesh
BGDFCAOFINUM
Use of Financial Services Deposit Accounts: Small and Medium Enterprise Accounts at Commercial Banks for Bangladesh
BGDFCAODCSNUM
Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Bangladesh (DDDI10BDA156NWDB), retrieved from FRED.