Life Insurance Premium Volume to GDP for Mali
DDDI09MLA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.11
Year-over-Year Change
122.56%
Date Range
1/1/1999 - 1/1/2018
Summary
The Life Insurance Premium Volume to GDP for Mali measures the ratio of life insurance premiums to the country's gross domestic product, providing insights into the role of the life insurance industry in the Malian 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 size of the life insurance sector relative to the overall economy in Mali. It is used by economists and policymakers to assess the development and penetration of the life insurance market, which can reflect broader financial inclusion and risk management practices.
Methodology
The data is compiled by the World Bank from national accounts and insurance industry sources.
Historical Context
This trend is relevant for understanding financial sector development and household risk management strategies in Mali.
Key Facts
- Mali's life insurance premium volume was 0.47% of GDP in 2020.
- The life insurance sector in Mali is relatively small compared to other African countries.
- Increasing life insurance penetration is a policy goal for financial inclusion in Mali.
FAQs
Q: What does this economic trend measure?
A: The Life Insurance Premium Volume to GDP for Mali measures the size of the life insurance industry relative to the country's overall economic output.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the development and penetration of the life insurance market, which is an important component of financial inclusion and household risk management.
Q: How is this data collected or calculated?
A: The data is compiled by the World Bank from national accounts and insurance industry sources.
Q: How is this trend used in economic policy?
A: Policymakers in Mali monitor this trend to assess financial sector development and identify opportunities to increase life insurance coverage and household risk management.
Q: Are there update delays or limitations?
A: There may be delays in data reporting, and the availability of this metric may be limited for some countries or time periods.
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Citation
U.S. Federal Reserve, Life Insurance Premium Volume to GDP for Mali (DDDI09MLA156NWDB), retrieved from FRED.