Non-Life Insurance Premium Volume to GDP for Dominican Republic
DDDI10DOA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.87
Year-over-Year Change
-19.63%
Date Range
1/1/1991 - 1/1/2020
Summary
The Non-Life Insurance Premium Volume to GDP for the Dominican Republic measures the value of non-life insurance premiums as a percentage of the country's gross domestic product. This indicator provides insight into the development and importance of the non-life insurance sector within the Dominican 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 metric tracks the relative size of the non-life insurance industry in the Dominican Republic. It is used by economists and policymakers to assess the country's insurance market maturity and financial sector development.
Methodology
The data is calculated by the World Bank using reported insurance premium volumes and GDP figures.
Historical Context
This trend is relevant for understanding the depth and penetration of the Dominican Republic's insurance industry and its role in the broader economy.
Key Facts
- The Dominican Republic's non-life insurance premium volume was 1.57% of GDP in 2020.
- Non-life insurance includes property, casualty, health, and other coverage, excluding life insurance.
- A higher ratio indicates a more developed insurance industry supporting economic activity.
FAQs
Q: What does this economic trend measure?
A: The Non-Life Insurance Premium Volume to GDP for the Dominican Republic measures the size of the country's non-life insurance industry relative to its overall economy.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the depth and penetration of the insurance sector, which is an important component of financial market development and economic growth.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using reported insurance premium volumes and GDP figures for the Dominican Republic.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the maturity and importance of the insurance industry within the Dominican economy and inform decisions around financial sector development.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, so there may be a delay of up to two years in the most recent figures.
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Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Dominican Republic (DDDI10DOA156NWDB), retrieved from FRED.