Life Insurance Premium Volume to GDP for Dominican Republic
DDDI09DOA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.22
Year-over-Year Change
46.84%
Date Range
1/1/1991 - 1/1/2020
Summary
The Life Insurance Premium Volume to GDP for Dominican Republic measures the ratio of life insurance premiums to the country's gross domestic product. This trend provides insight into the size and importance of the life insurance industry within the Dominican 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 tracks the total value of life insurance premiums paid in the Dominican Republic as a percentage of its GDP. It serves as a gauge of the life insurance sector's significance and development relative to the overall economy.
Methodology
The data is collected by the World Bank from national statistical agencies and compiled into the World Development Indicators database.
Historical Context
Policymakers and analysts use this trend to assess the financial maturity and risk protection levels within the Dominican economy.
Key Facts
- Life insurance premiums were 2.3% of Dominican Republic's GDP in 2020.
- The ratio has increased from 1.9% in 2010, indicating growth in the life insurance industry.
- The Dominican Republic has a lower life insurance penetration compared to other Latin American countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of life insurance premiums paid in the Dominican Republic as a percentage of its gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the size and significance of the life insurance industry within the Dominican economy, which is important for assessing financial sector development and risk protection levels.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank from national statistical agencies and compiled into the World Development Indicators database.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to evaluate the financial maturity and risk protection levels within the Dominican economy.
Q: Are there update delays or limitations?
A: The data is updated annually with a typical lag of 1-2 years, so the most recent figures may not reflect the current state of the life insurance industry.
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Citation
U.S. Federal Reserve, Life Insurance Premium Volume to GDP for Dominican Republic (DDDI09DOA156NWDB), retrieved from FRED.