Life Insurance Premium Volume to GDP for Austria
DDDI09ATA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.43
Year-over-Year Change
-42.89%
Date Range
1/1/1993 - 1/1/2020
Summary
The 'Life Insurance Premium Volume to GDP for Austria' metric measures the ratio of life insurance premiums to the country's total economic output, providing insights into the role of life insurance in the Austrian 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 represents the size of the life insurance industry relative to the overall Austrian economy. It is used by analysts and policymakers to assess the development and penetration of the life insurance market and its contribution to financial sector activity.
Methodology
The data is calculated by the World Bank as the ratio of life insurance premium volume to GDP.
Historical Context
Trends in this metric can inform financial sector regulation and development policies.
Key Facts
- Austria's life insurance premium to GDP ratio was 4.6% in 2020.
- The ratio has remained relatively stable over the past decade.
- Life insurance is an important component of Austria's financial sector.
FAQs
Q: What does this economic trend measure?
A: This metric measures the size of the life insurance industry in Austria relative to the country's total economic output or GDP.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the development and penetration of the life insurance market, which is an important component of the financial sector and can inform policymaking.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank as the ratio of life insurance premium volume to GDP.
Q: How is this trend used in economic policy?
A: Trends in this metric can inform financial sector regulation and development policies in Austria.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so there may be a delay in accessing the most recent figures.
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Citation
U.S. Federal Reserve, Life Insurance Premium Volume to GDP for Austria (DDDI09ATA156NWDB), retrieved from FRED.