Life Insurance Premium Volume to GDP for Brunei Darussalam
DDDI09BNA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.54
Year-over-Year Change
109.06%
Date Range
1/1/1997 - 1/1/2020
Summary
This economic trend measures the ratio of life insurance premium volume to GDP in Brunei Darussalam. It provides insight into the relative importance of the life insurance industry within the country's 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 life insurance premium volume to GDP ratio is an indicator of the size and development of a country's life insurance sector relative to its overall economic activity. It is used by economists and policymakers to assess the financial depth and stability of an economy.
Methodology
The data is collected and calculated by the World Bank using national accounts and insurance industry statistics.
Historical Context
This trend is relevant for understanding the role of the insurance industry in Brunei's economic and financial landscape.
Key Facts
- Brunei's life insurance premium volume was 0.75% of GDP in 2020.
- The ratio has declined from a high of 1.02% in 2015.
- Life insurance is a relatively small but growing part of Brunei's financial sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the ratio of life insurance premium volume to GDP in Brunei Darussalam, providing insight into the size of the life insurance industry relative to the overall economy.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the financial depth and stability of Brunei's economy, as well as the role of the insurance industry in the country's economic and financial landscape.
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 economists use this trend to assess the development and importance of the life insurance sector within Brunei's broader financial system and economy.
Q: Are there update delays or limitations?
A: The data is subject to the availability and timeliness of national accounts and insurance industry statistics reported by Brunei to the World Bank.
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Citation
U.S. Federal Reserve, Life Insurance Premium Volume to GDP for Brunei Darussalam (DDDI09BNA156NWDB), retrieved from FRED.