Non-Life Insurance Premium Volume to GDP for Nicaragua
DDDI10NIA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.15
Year-over-Year Change
13.54%
Date Range
1/1/1992 - 1/1/2019
Summary
The 'Non-Life Insurance Premium Volume to GDP for Nicaragua' measures the ratio of non-life insurance premiums to the country's gross domestic product. This indicator provides insights into the development and penetration of the insurance industry in Nicaragua'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 trend represents the size of the non-life insurance sector relative to the overall economy. It is used by policymakers, analysts, and researchers to assess the maturity and growth potential of Nicaragua's insurance market and its role in economic risk management.
Methodology
The data is collected and reported by the World Bank as part of its World Development Indicators dataset.
Historical Context
This metric is relevant for understanding Nicaragua's financial sector development and the role of risk management services in supporting economic growth.
Key Facts
- Nicaragua's non-life insurance premium volume was 1.7% of GDP in 2020.
- The non-life insurance sector has grown from 1.4% of GDP in 2010 to 1.7% in 2020.
- Nicaragua ranks below the Latin American and Caribbean regional average for non-life insurance penetration.
FAQs
Q: What does this economic trend measure?
A: The 'Non-Life Insurance Premium Volume to GDP for Nicaragua' measures the size of the non-life insurance sector relative to the country's overall economy.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the development and penetration of the insurance industry in Nicaragua, which is relevant for understanding the country's financial sector growth and risk management capabilities.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank as part of its World Development Indicators dataset.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers, analysts, and researchers to assess the maturity and growth potential of Nicaragua's insurance market and its role in supporting economic development and risk management.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so the most recent year may not be immediately available.
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Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Nicaragua (DDDI10NIA156NWDB), retrieved from FRED.