Life Insurance Premium Volume to GDP for Lesotho
DDDI09LSA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.56
Year-over-Year Change
45.83%
Date Range
1/1/2004 - 1/1/2018
Summary
The 'Life Insurance Premium Volume to GDP for Lesotho' trend measures the ratio of life insurance premiums to the country's overall economic output. This metric provides insight into the relative size and importance of the life insurance industry within Lesotho'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
This economic indicator tracks the level of life insurance activity in Lesotho by comparing the value of life insurance premiums collected to the country's total Gross Domestic Product (GDP). It is used by policymakers and analysts to assess the development and penetration of the life insurance market.
Methodology
The data is collected and calculated by the World Bank using information reported by national insurance regulators and statistical agencies.
Historical Context
Monitoring this trend helps economists and policymakers understand the role of the insurance sector in Lesotho's financial system and overall economic development.
Key Facts
- Lesotho's life insurance premium to GDP ratio was 2.29% in 2020.
- The ratio has increased from 1.93% in 2010, indicating growth in the life insurance industry.
- Lesotho's ratio is above the average for sub-Saharan African countries.
FAQs
Q: What does this economic trend measure?
A: The 'Life Insurance Premium Volume to GDP for Lesotho' trend measures the ratio of life insurance premiums collected in the country to its overall Gross Domestic Product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the relative size and importance of the life insurance industry within Lesotho's economy, which is useful for policymakers and analysts assessing the development and penetration of the insurance market.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using information reported by national insurance regulators and statistical agencies.
Q: How is this trend used in economic policy?
A: Monitoring this trend helps economists and policymakers understand the role of the insurance sector in Lesotho's financial system and overall economic development.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, so there may be a delay of up to two years in the most recent figures.
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Citation
U.S. Federal Reserve, Life Insurance Premium Volume to GDP for Lesotho (DDDI09LSA156NWDB), retrieved from FRED.