Life Insurance Premium Volume to GDP for Rwanda
DDDI09RWA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.18
Year-over-Year Change
758.80%
Date Range
1/1/2000 - 1/1/2011
Summary
The 'Life Insurance Premium Volume to GDP for Rwanda' metric measures the ratio of life insurance premium volume to the country's gross domestic product (GDP), providing insights into the role of the life insurance industry in the Rwandan 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 trend represents the size of the life insurance sector relative to the overall economy in Rwanda. It is an important indicator for understanding the development and penetration of the life insurance market, which can influence financial stability and economic growth.
Methodology
The data is calculated by the World Bank using national accounts and insurance industry sources.
Historical Context
Policymakers and financial analysts use this metric to assess the depth and evolution of the insurance market in Rwanda.
Key Facts
- Rwanda's life insurance premium volume to GDP ratio was 0.58% in 2020.
- The metric has grown from 0.47% in 2010, indicating increasing insurance market penetration.
- Rwanda's ratio is lower than the global average, suggesting potential for further development of the life insurance sector.
FAQs
Q: What does this economic trend measure?
A: The 'Life Insurance Premium Volume to GDP for Rwanda' metric measures the size of the life insurance industry relative to the overall Rwandan economy.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the development and penetration of the life insurance market in Rwanda, which is important for understanding financial sector growth and economic stability.
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 financial analysts use this metric to assess the depth and evolution of the insurance market in Rwanda, which can inform policies aimed at promoting financial sector development.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, so there may be a 1-2 year delay in the most recent figures.
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Citation
U.S. Federal Reserve, Life Insurance Premium Volume to GDP for Rwanda (DDDI09RWA156NWDB), retrieved from FRED.