Non-Life Insurance Premium Volume to GDP for Congo
DDDI10CGA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.62
Year-over-Year Change
27.62%
Date Range
1/1/2000 - 1/1/2018
Summary
The Non-Life Insurance Premium Volume to GDP for Congo measures the size of the non-life insurance industry relative to the overall Congolese economy. This metric is a key indicator of insurance market development and economic risk protection.
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, such as for property, casualty, and liability coverage, as a percentage of Congo's gross domestic product. It provides insight into the maturity and importance of the insurance sector within the broader Congolese economy.
Methodology
The data is calculated by the World Bank using national accounts and insurance industry sources.
Historical Context
Policymakers and analysts use this metric to assess financial sector depth and the degree of risk management in the Congolese economy.
Key Facts
- Congo's non-life insurance premium volume was 0.7% of GDP in 2021.
- The non-life insurance industry in Congo is relatively underdeveloped compared to other African nations.
- Increasing insurance penetration is a key policy goal for promoting economic resilience in Congo.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total value of non-life insurance premiums, such as for property, casualty, and liability coverage, as a percentage of Congo's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the maturity and importance of the insurance sector within the broader Congolese economy, which is a key indicator of financial sector development and economic risk protection.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and insurance industry sources.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess financial sector depth and the degree of risk management in the Congolese economy, which informs policy decisions aimed at promoting economic resilience.
Q: Are there update delays or limitations?
A: The data is subject to the availability and reporting schedules of national accounts and insurance industry sources, which may result in periodic update delays.
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Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Congo (DDDI10CGA156NWDB), retrieved from FRED.