Non-Life Insurance Premium Volume to GDP for Ethiopia
DDDI10ETA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.36
Year-over-Year Change
-36.63%
Date Range
1/1/1990 - 1/1/2017
Summary
The Non-Life Insurance Premium Volume to GDP for Ethiopia measures the volume of non-life insurance premiums as a percentage of the country's gross domestic product. This metric provides insight into the development and penetration of the insurance sector in the Ethiopian 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 trend represents the non-life insurance industry's contribution to Ethiopia's overall economic activity. It is a valuable indicator for assessing the maturity and role of the insurance market in supporting economic growth and risk management within the country.
Methodology
The data is collected and calculated by the World Bank based on reports from national insurance regulatory authorities.
Historical Context
Policymakers and analysts use this metric to evaluate the insurance industry's development and its potential to enhance financial inclusion and resilience in the Ethiopian economy.
Key Facts
- Ethiopia's non-life insurance premium volume was 0.78% of GDP in 2020.
- The insurance sector in Ethiopia is still relatively underdeveloped compared to other African countries.
- Increasing insurance penetration is a key goal for Ethiopia's economic and financial development plans.
FAQs
Q: What does this economic trend measure?
A: This trend measures the volume of non-life insurance premiums in Ethiopia as a percentage of the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the development and penetration of the insurance sector in the Ethiopian economy, which is crucial for supporting economic growth, risk management, and financial inclusion.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on reports from national insurance regulatory authorities.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate the insurance industry's development and its potential to enhance financial inclusion and resilience in the Ethiopian economy.
Q: Are there update delays or limitations?
A: The data may be subject to delays in reporting from national sources, and the coverage may be limited to certain insurance products or providers.
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Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Ethiopia (DDDI10ETA156NWDB), retrieved from FRED.