Life Insurance Premium Volume to GDP for Nicaragua
DDDI09NIA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.33
Year-over-Year Change
67.02%
Date Range
1/1/1995 - 1/1/2019
Summary
The 'Life Insurance Premium Volume to GDP for Nicaragua' metric measures the ratio of life insurance premiums to the country's overall economic output. This indicator provides insights into the development and penetration of the life insurance industry within Nicaragua'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
The life insurance premium to GDP ratio is a commonly used metric to assess the financial development and insurance sector depth of a country. It reflects the relative importance of life insurance activities compared to the overall size of the national economy.
Methodology
The data is calculated by the World Bank using national accounts and insurance industry sources.
Historical Context
Policymakers and analysts use this metric to evaluate the financial health and growth potential of Nicaragua's insurance market.
Key Facts
- Nicaragua's life insurance premium to GDP ratio was 0.92% in 2020.
- The ratio has increased from 0.79% in 2010, indicating gradual growth in the insurance industry.
- Nicaragua's ratio is lower than the Latin American and Caribbean regional average.
FAQs
Q: What does this economic trend measure?
A: The 'Life Insurance Premium Volume to GDP for Nicaragua' metric measures the ratio of life insurance premiums to the country's overall economic output, providing insights into the development and penetration of the life insurance industry.
Q: Why is this trend relevant for users or analysts?
A: This metric is relevant for policymakers and analysts to evaluate the financial health and growth potential of Nicaragua's insurance market, as well as to compare its development to regional and global benchmarks.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and insurance industry sources.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the financial development and insurance sector depth of Nicaragua, which can inform policy decisions aimed at promoting the growth and stability of the insurance industry.
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 a year in the most recent figures being available.
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Citation
U.S. Federal Reserve, Life Insurance Premium Volume to GDP for Nicaragua (DDDI09NIA156NWDB), retrieved from FRED.