Life Insurance Premium Volume to GDP for Belarus
DDDI09BYA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.14
Year-over-Year Change
266.81%
Date Range
1/1/1998 - 1/1/2020
Summary
The Life Insurance Premium Volume to GDP ratio for Belarus measures the size of the life insurance industry relative to the country's overall economic output. This metric is a key indicator of financial development and risk management practices.
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 represents the total value of life insurance premiums collected as a percentage of Belarus's gross domestic product. This ratio reflects the importance of life insurance products within the Belarusian economy and is used by economists to assess financial market depth and household risk diversification.
Methodology
This data is calculated by the World Bank using information on life insurance premium volumes and GDP statistics reported by the National Statistical Committee of the Republic of Belarus.
Historical Context
Policymakers and financial analysts monitor this trend to gauge the growth and penetration of the life insurance sector and its contribution to economic stability.
Key Facts
- Belarus's life insurance premium volume was 0.51% of GDP in 2020.
- The life insurance industry has grown steadily in Belarus over the past decade.
- The ratio of life insurance premiums to GDP is significantly lower in Belarus compared to more developed financial markets.
FAQs
Q: What does this economic trend measure?
A: The Life Insurance Premium Volume to GDP ratio for Belarus measures the size of the country's life insurance industry relative to its overall economic output.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for assessing the depth and development of Belarus's financial markets, as well as the role of life insurance in household risk management and economic stability.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using information on life insurance premium volumes and GDP statistics reported by the National Statistical Committee of the Republic of Belarus.
Q: How is this trend used in economic policy?
A: Policymakers and financial analysts monitor this trend to gauge the growth and penetration of the life insurance sector and its contribution to economic stability in Belarus.
Q: Are there update delays or limitations?
A: The data is subject to the reporting schedules and methodologies of the National Statistical Committee of the Republic of Belarus and the World Bank.
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Citation
U.S. Federal Reserve, Life Insurance Premium Volume to GDP for Belarus (DDDI09BYA156NWDB), retrieved from FRED.