Non-Life Insurance Premium Volume to GDP for Belize
DDDI10BZA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.14
Year-over-Year Change
6.03%
Date Range
1/1/1993 - 1/1/2020
Summary
This economic trend measures the ratio of non-life insurance premiums to GDP in Belize. It provides insight into the development and penetration of the non-life insurance industry within the broader Belizean 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 sector relative to the overall economy. It serves as an indicator of insurance market maturity and can inform assessments of financial sector development.
Methodology
The data is compiled by the World Bank from national accounts and insurance industry sources.
Historical Context
Policymakers and analysts use this metric to gauge the insurance industry's contribution to economic growth and financial stability.
Key Facts
- Belize's non-life insurance premium volume to GDP ratio was 2.3% in 2020.
- The ratio has increased from 1.8% in 2010, indicating gradual insurance market growth.
- Belize's ratio is lower than the Latin America and Caribbean regional average of 2.7%.
FAQs
Q: What does this economic trend measure?
A: This trend measures the ratio of non-life insurance premiums to GDP in Belize, providing insight into the size and development of the non-life insurance industry relative to the overall economy.
Q: Why is this trend relevant for users or analysts?
A: The non-life insurance premium to GDP ratio is an important indicator of insurance market maturity and financial sector development, which is relevant for policymakers, investors, and economic analysts.
Q: How is this data collected or calculated?
A: The data is compiled by the World Bank from national accounts and insurance industry sources.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge the insurance industry's contribution to economic growth and financial stability, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data may be subject to periodic updates and can vary in availability across countries and time periods.
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Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Belize (DDDI10BZA156NWDB), retrieved from FRED.