Life Insurance Premium Volume to GDP for Madagascar
DDDI09MGA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.11
Year-over-Year Change
19.97%
Date Range
1/1/1990 - 1/1/2018
Summary
The Life Insurance Premium Volume to GDP for Madagascar measures the ratio of life insurance premiums to the country's gross domestic product, providing insights into the development of the life insurance industry and its economic significance.
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 represents the contribution of the life insurance sector to Madagascar's overall economic output. It is a key metric used by policymakers, financial analysts, and industry stakeholders to assess the insurance market's maturity and penetration within the national economy.
Methodology
The data is collected and calculated by the World Bank based on reported life insurance premium volumes and GDP figures.
Historical Context
This trend is relevant for understanding the role of the insurance industry in Madagascar's economic growth and development.
Key Facts
- Madagascar's life insurance premium volume to GDP ratio was 0.81% in 2020.
- The ratio has remained relatively stable over the past decade, indicating a steady insurance market.
- Life insurance plays a small but important role in Madagascar's predominantly informal economy.
FAQs
Q: What does this economic trend measure?
A: The Life Insurance Premium Volume to GDP for Madagascar measures the ratio of life insurance premiums to the country's gross domestic product, providing insights into the development of the life insurance industry and its economic significance.
Q: Why is this trend relevant for users or analysts?
A: This indicator is relevant for understanding the role of the insurance industry in Madagascar's economic growth and development, as well as assessing the market's maturity and penetration within the national economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on reported life insurance premium volumes and GDP figures.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, financial analysts, and industry stakeholders to assess the insurance market's contribution to Madagascar's overall economic output and inform policy decisions related to the financial sector.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with some potential delays in reporting. Limitations may include the accuracy and completeness of reported insurance premium data.
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Citation
U.S. Federal Reserve, Life Insurance Premium Volume to GDP for Madagascar (DDDI09MGA156NWDB), retrieved from FRED.