Life Insurance Premium Volume to GDP for Slovakia
DDDI09SKA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.95
Year-over-Year Change
-41.27%
Date Range
1/1/1993 - 1/1/2020
Summary
The Life Insurance Premium Volume to GDP for Slovakia measures the ratio of life insurance premiums to the country's gross domestic product. This metric provides insight into the development and importance of the life insurance industry within the Slovak 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 Volume to GDP for Slovakia represents the total value of life insurance premiums underwritten in the country, expressed as a percentage of its GDP. This indicator helps assess the maturity and penetration of the life insurance market and its contribution to the overall economic activity.
Methodology
The data is collected and calculated by the World Bank based on national accounts and insurance industry statistics.
Historical Context
This trend is relevant for policymakers, insurers, and financial analysts to gauge the growth and role of the life insurance sector within the Slovak economy.
Key Facts
- Slovakia's life insurance premium volume to GDP ratio was 2.29% in 2020.
- The ratio has increased from 1.56% in 2000, indicating growth in the life insurance industry.
- Life insurance is an important component of the Slovak financial sector.
FAQs
Q: What does this economic trend measure?
A: The Life Insurance Premium Volume to GDP for Slovakia measures the ratio of total life insurance premiums underwritten in the country to its gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the development and penetration of the life insurance industry within the Slovak economy, which is important for policymakers, insurers, and financial analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on national accounts and insurance industry statistics.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers to gauge the growth and role of the life insurance sector within the Slovak economy and its contribution to overall economic activity.
Q: Are there update delays or limitations?
A: The data is subject to the reporting and publication schedules of the World Bank, which may result in occasional delays in data availability.
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Citation
U.S. Federal Reserve, Life Insurance Premium Volume to GDP for Slovakia (DDDI09SKA156NWDB), retrieved from FRED.