Non-Life Insurance Premium Volume to GDP for Gabon
DDDI10GAA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.63
Year-over-Year Change
-5.25%
Date Range
1/1/1990 - 1/1/2020
Summary
The Non-Life Insurance Premium Volume to GDP for Gabon measures the ratio of non-life insurance premiums to the country's gross domestic product. This metric provides insight into the role of the insurance industry in Gabon'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
This economic indicator represents the size of the non-life insurance sector in Gabon relative to the overall economy. It is used by economists and policymakers to assess the development and penetration of the insurance market, which is an important component of a country's financial system.
Methodology
The data is calculated by the World Bank using reports from national insurance regulators and statistical agencies.
Historical Context
This trend is relevant for understanding Gabon's financial sector development and the potential for insurance market growth.
Key Facts
- Gabon's non-life insurance premium volume was 1.1% of GDP in 2020.
- The insurance sector plays a smaller role in Gabon's economy compared to many other African countries.
- Growth in the non-life insurance market could support broader economic development in Gabon.
FAQs
Q: What does this economic trend measure?
A: This trend measures the ratio of non-life insurance premiums to the gross domestic product (GDP) in Gabon. It provides an indicator of the size of the non-life insurance industry relative to the overall economy.
Q: Why is this trend relevant for users or analysts?
A: This metric is relevant for understanding the development and penetration of the insurance market in Gabon, which is an important component of the country's financial system and can support broader economic growth.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using reports from national insurance regulators and statistical agencies.
Q: How is this trend used in economic policy?
A: Policymakers and economists can use this trend to assess the role of the insurance industry in Gabon's economy and identify opportunities for market development and growth.
Q: Are there update delays or limitations?
A: The data is reported annually, and there may be some delays in publication due to the time required for data collection and processing.
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Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Gabon (DDDI10GAA156NWDB), retrieved from FRED.