Life Insurance Premium Volume to GDP for Czech Republic
DDDI09CZA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.90
Year-over-Year Change
-35.96%
Date Range
1/1/1993 - 1/1/2020
Summary
The Life Insurance Premium Volume to GDP ratio measures the size of the life insurance industry relative to the overall economy in the Czech Republic.
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 metric provides insight into the development and importance of the life insurance sector within the Czech economy. It is used by economists and policymakers to analyze financial sector depth and the role of insurance in household financial planning.
Methodology
The data is calculated by the World Bank as the value of life insurance premiums divided by the country's gross domestic product.
Historical Context
This indicator offers valuable context for assessing the financial health and growth potential of the Czech insurance market.
Key Facts
- Life insurance premiums accounted for 2.9% of Czech GDP in 2020.
- The life insurance premium-to-GDP ratio in the Czech Republic has increased from 2.2% in 2010 to 2.9% in 2020.
- Czechia has one of the highest life insurance premium-to-GDP ratios among Central and Eastern European countries.
FAQs
Q: What does this economic trend measure?
A: The Life Insurance Premium Volume to GDP ratio measures the size of the life insurance industry relative to the overall economy in the Czech Republic.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the development and importance of the life insurance sector within the Czech economy, which is useful for economists and policymakers analyzing financial sector depth and the role of insurance in household financial planning.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank as the value of life insurance premiums divided by the country's gross domestic product.
Q: How is this trend used in economic policy?
A: This indicator offers valuable context for assessing the financial health and growth potential of the Czech insurance market, which is relevant for policymakers and analysts.
Q: Are there update delays or limitations?
A: The data is subject to the timeliness of reporting by the World Bank, but generally provides a reliable and transparent view of the life insurance sector in the Czech Republic.
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Citation
U.S. Federal Reserve, Life Insurance Premium Volume to GDP for Czech Republic (DDDI09CZA156NWDB), retrieved from FRED.