Non-Life Insurance Premium Volume to GDP for Fiji
DDDI10FJA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.31
Year-over-Year Change
-24.91%
Date Range
1/1/1991 - 1/1/2019
Summary
The Non-Life Insurance Premium Volume to GDP for Fiji measures the relative size of the non-life insurance industry in the country's economy. This metric provides insights into the level of insurance coverage and financial protection for individuals and businesses.
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 economic indicator tracks the ratio of non-life insurance premiums to the overall Gross Domestic Product (GDP) in Fiji. It serves as a proxy for the development and penetration of the non-life insurance market, which includes policies for property, liability, and personal accident coverage.
Methodology
The data is collected and calculated by the World Bank based on reports from insurance regulatory authorities and national accounts statistics.
Historical Context
Policymakers and analysts use this metric to assess the financial resilience and risk management practices within Fiji's economy.
Key Facts
- Fiji's non-life insurance premium volume was 1.7% of GDP in 2020.
- The non-life insurance industry in Fiji has grown steadily over the past decade.
- Improving non-life insurance coverage is a key goal for Fiji's financial regulators.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the size of Fiji's non-life insurance industry relative to its overall economic output or GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial protection and risk management practices within Fiji's economy, which is important for assessing economic resilience and development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on reports from insurance regulatory authorities and national accounts statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate the development of Fiji's insurance industry and identify opportunities to improve financial risk coverage and management.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, so there may be a 1-2 year delay in the most recent figures.
Related Trends
Value of Exports to Fiji from Oklahoma
OKFJIA052SCEN
Bank Credit to Bank Deposits for Fiji
DDSI04FJA156NWDB
Number of Identified Exporters to Fiji from Louisiana
LAFJIA475SCEN
Internet users for Fiji
ITNETUSERP2FJI
National Accounts: Real Gross Domestic Product for Fiji
FJINGDPRPCPPPT
Number of Bank Branches for Fiji
DDAI02FJA643NWDB
Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Fiji (DDDI10FJA156NWDB), retrieved from FRED.