Insurance Company Assets to GDP for Saudi Arabia
DDDI11SAA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.58
Year-over-Year Change
69.61%
Date Range
1/1/2009 - 1/1/2020
Summary
This trend measures the ratio of insurance company assets to GDP in Saudi Arabia, providing insight into the relative size and importance of the insurance industry in the national 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 ratio is a key indicator of the development and maturity of a country's insurance sector. It reflects the ability of insurance companies to mobilize and invest savings, which supports economic growth and risk management.
Methodology
The data is collected and calculated by the World Bank using national accounts and insurance industry information.
Historical Context
Policymakers and analysts use this metric to assess the role of the insurance industry in Saudi Arabia's financial system and overall economic development.
Key Facts
- Saudi Arabia's insurance company assets to GDP ratio was 7.7% in 2020.
- The ratio has grown from 5.7% in 2010, indicating the expanding role of insurance in the Saudi economy.
- Saudi Arabia aims to increase insurance penetration as part of its Vision 2030 economic diversification plan.
FAQs
Q: What does this economic trend measure?
A: This trend measures the ratio of insurance company assets to the gross domestic product (GDP) in Saudi Arabia, providing insight into the relative size and importance of the insurance industry in the national economy.
Q: Why is this trend relevant for users or analysts?
A: The insurance company assets to GDP ratio is a key indicator of the development and maturity of a country's insurance sector, reflecting the ability of insurance companies to mobilize and invest savings, which supports economic growth and risk management.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national accounts and insurance industry information.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the role of the insurance industry in Saudi Arabia's financial system and overall economic development, particularly as the country aims to increase insurance penetration as part of its Vision 2030 economic diversification plan.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, so there may be a delay of up to 2 years in the most recent figures being available.
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Citation
U.S. Federal Reserve, Insurance Company Assets to GDP for Saudi Arabia (DDDI11SAA156NWDB), retrieved from FRED.