Non-Life Insurance Premium Volume to GDP for Luxembourg
DDDI10LUA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.84
Year-over-Year Change
188.12%
Date Range
1/1/1990 - 1/1/2020
Summary
The Non-Life Insurance Premium Volume to GDP for Luxembourg measures the total value of non-life insurance premiums as a percentage of the country's gross domestic product. This provides insight into the relative size and importance of the non-life insurance industry within the Luxembourg 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 tracks the volume of non-life insurance premiums, such as those for auto, property, and liability coverage, relative to the overall size of Luxembourg's economy. It is used by policymakers and analysts to assess the development and significance of the insurance sector.
Methodology
The data is calculated by dividing the total value of non-life insurance premiums by the country's GDP, both sourced from official government statistics.
Historical Context
Monitoring this trend can help inform regulatory oversight and policies affecting the insurance industry in Luxembourg.
Key Facts
- Luxembourg has one of the largest insurance sectors in Europe.
- Non-life insurance premiums account for over 6% of Luxembourg's GDP.
- The non-life insurance industry employs over 10,000 people in Luxembourg.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the total value of non-life insurance premiums, such as for auto, property, and liability coverage, as a percentage of Luxembourg's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: Monitoring the size of the non-life insurance industry relative to the overall economy provides insight into the development and importance of this sector, which is critical for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is calculated by dividing the total value of non-life insurance premiums by Luxembourg's GDP, using official government statistics.
Q: How is this trend used in economic policy?
A: Tracking this indicator can help inform regulatory oversight and policies affecting the insurance industry in Luxembourg, as it provides a measure of the sector's size and significance within the broader economy.
Q: Are there update delays or limitations?
A: The data is updated annually with a slight delay as it relies on official GDP and insurance premium statistics.
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Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Luxembourg (DDDI10LUA156NWDB), retrieved from FRED.