Life Insurance Premium Volume to GDP for Burundi
DDDI09BIA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.28
Year-over-Year Change
110.18%
Date Range
1/1/2001 - 1/1/2018
Summary
The 'Life Insurance Premium Volume to GDP' trend measures the value of life insurance premiums in Burundi as a percentage of the country's gross domestic product (GDP). This metric provides insights into the development and penetration of the life insurance industry within the broader Burundian 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 total value of life insurance premiums underwritten in Burundi, expressed as a proportion of the country's GDP. It serves as a proxy for the relative importance and maturity of the life insurance sector in Burundi's financial landscape.
Methodology
The data is collected and calculated by the World Bank using national accounts and insurance industry statistics.
Historical Context
Policymakers and financial analysts use this metric to assess the insurance market's contribution to economic activity and development in Burundi.
Key Facts
- Burundi's life insurance premium volume was 0.23% of GDP in 2020.
- The life insurance industry in Burundi is relatively small compared to other African countries.
- Increasing life insurance penetration is a key focus for Burundi's financial sector development strategy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value of life insurance premiums in Burundi as a percentage of the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the development and importance of the life insurance industry within the broader Burundian 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 using national accounts and insurance industry statistics.
Q: How is this trend used in economic policy?
A: Policymakers and financial analysts use this metric to assess the insurance market's contribution to economic activity and development in Burundi.
Q: Are there update delays or limitations?
A: The data may be subject to periodic updates and revisions by the World Bank.
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Citation
U.S. Federal Reserve, Life Insurance Premium Volume to GDP for Burundi (DDDI09BIA156NWDB), retrieved from FRED.