Non-Life Insurance Premium Volume to GDP for Costa Rica
DDDI10CRA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.58
Year-over-Year Change
-12.24%
Date Range
1/1/1990 - 1/1/2020
Summary
The Non-Life Insurance Premium Volume to GDP ratio for Costa Rica measures the size of the non-life insurance sector relative to the country's overall economic output. This metric provides insights into the development and importance of the insurance industry in Costa Rica's 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 represents the total value of non-life insurance premiums, such as property, casualty, and liability coverage, as a percentage of Costa Rica's gross domestic product. This indicator is used by economists and policymakers to evaluate the depth and maturity of the country's insurance market and its role in financial intermediation.
Methodology
The data is collected and reported by the World Bank based on information provided by national statistical agencies.
Historical Context
Tracking this trend can help policymakers understand the insurance industry's contribution to economic growth and identify areas for development.
Key Facts
- The non-life insurance premium to GDP ratio in Costa Rica was 2.31% in 2020.
- Costa Rica's non-life insurance sector has grown steadily in recent years, reflecting increased economic activity and risk awareness.
- The non-life insurance industry in Costa Rica is dominated by a few large players, indicating potential for increased competition.
FAQs
Q: What does this economic trend measure?
A: The Non-Life Insurance Premium Volume to GDP ratio measures the size of Costa Rica's non-life insurance sector relative to the country's overall economic output.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the development and importance of the insurance industry in Costa Rica's economy, which is useful for economists and policymakers evaluating the financial sector's role in economic growth.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank based on information provided by Costa Rica's national statistical agencies.
Q: How is this trend used in economic policy?
A: Tracking this trend can help policymakers understand the insurance industry's contribution to economic growth and identify areas for development in Costa Rica's financial sector.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of 1-2 years, and may be subject to revisions by the reporting agencies.
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Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Costa Rica (DDDI10CRA156NWDB), retrieved from FRED.