Insurance Company Assets to GDP for Australia
DDDI11AUA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12.59
Year-over-Year Change
-60.61%
Date Range
1/1/1988 - 1/1/2020
Summary
This economic trend measures the ratio of insurance company assets to the gross domestic product (GDP) in Australia. It provides insights into the size and importance of the insurance industry relative to the overall Australian 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
The Insurance Company Assets to GDP for Australia indicator represents the total assets held by insurance companies in the country expressed as a percentage of the country's GDP. This metric is used by economists and policymakers to assess the relative size and significance of the insurance sector within the broader Australian economic landscape.
Methodology
The data is collected and calculated by the World Bank using official national accounts and insurance industry statistics.
Historical Context
This trend is relevant for understanding the financial depth and development of the Australian insurance market and its role in the country's economic activity and financial system.
Key Facts
- Australia's insurance company assets to GDP ratio was 78.1% in 2020.
- The ratio has increased from around 60% in the early 2000s.
- The insurance industry is a significant contributor to the Australian economy.
FAQs
Q: What does this economic trend measure?
A: The Insurance Company Assets to GDP for Australia measures the total assets held by insurance companies in the country as a percentage of the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the size and importance of the insurance industry relative to the overall Australian economy, which is useful for economists, policymakers, and investors in understanding the financial depth and development of the Australian insurance market.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using official national accounts and insurance industry statistics.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and regulators to assess the financial stability and systemic importance of the insurance sector, as well as to inform policy decisions related to the insurance industry and its role in the broader Australian financial system.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, and there may be some delays in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Insurance Company Assets to GDP for Australia (DDDI11AUA156NWDB), retrieved from FRED.