Non-Life Insurance Premium Volume to GDP for Syrian Arab Republic
DDDI10SYA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.05
Year-over-Year Change
-87.92%
Date Range
1/1/1990 - 1/1/2019
Summary
The Non-Life Insurance Premium Volume to GDP for Syrian Arab Republic measures the size of the non-life insurance industry relative to the overall economy. This indicator provides insights into the development and penetration of the insurance sector.
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 metric represents the total value of non-life insurance premiums, such as property, liability, and accident insurance, as a percentage of the country's gross domestic product. It serves as a proxy for the level of insurance market development and financial intermediation in the Syrian economy.
Methodology
The data is collected and calculated by the World Bank based on reports from national insurance regulators and statistical agencies.
Historical Context
Policymakers and analysts use this indicator to evaluate the maturity and importance of the insurance industry within a country's financial system.
Key Facts
- Non-life insurance premiums are 1.4% of Syria's GDP as of the latest data.
- The insurance sector plays a relatively small role in the Syrian economy.
- Syria's non-life insurance premium volume has declined since the start of the civil war in 2011.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the total value of non-life insurance premiums, such as property, liability, and accident insurance, as a percentage of the country's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the development and penetration of the insurance sector within the Syrian economy, which is relevant for policymakers and financial analysts.
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 regulators and statistical agencies.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to evaluate the maturity and importance of the insurance industry within Syria's financial system.
Q: Are there update delays or limitations?
A: The data may have limited availability or timeliness due to the ongoing civil conflict in Syria.
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Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Syrian Arab Republic (DDDI10SYA156NWDB), retrieved from FRED.