Non-Life Insurance Premium Volume to GDP for Albania
DDDI10ALA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.89
Year-over-Year Change
55.22%
Date Range
1/1/1994 - 1/1/2020
Summary
The Non-Life Insurance Premium Volume to GDP for Albania measures the contribution of non-life insurance premiums to the country's overall economic output. This metric provides insights into the development and significance of the non-life insurance sector within Albania'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
This economic indicator tracks the ratio of non-life insurance premiums to the gross domestic product (GDP) in Albania. It offers a gauge of the relative size and importance of the non-life insurance industry, which includes coverage for property, casualty, and other non-life risks. Analysts use this data to assess the maturity and growth dynamics of Albania's insurance market.
Methodology
The data is collected and calculated by the World Bank from official national accounts and insurance industry sources.
Historical Context
Policymakers and market participants monitor this trend to understand the role of non-life insurance in Albania's economic development and financial system.
Key Facts
- Non-life insurance premiums account for around 1.5% of Albania's GDP.
- The non-life insurance sector has grown steadily in Albania over the past decade.
- Albania's non-life insurance penetration remains lower than the EU average.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the ratio of non-life insurance premiums to the gross domestic product (GDP) in Albania. It reflects the relative size and importance of the non-life insurance industry in the country's economy.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the development and maturity of Albania's insurance market, which is an important component of the country's financial system and overall economic growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using official national accounts and insurance industry sources.
Q: How is this trend used in economic policy?
A: Policymakers and market participants monitor this trend to understand the role of non-life insurance in Albania's economic development and to inform financial sector policies and regulations.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may not capture the most recent changes in Albania's non-life insurance market.
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Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Albania (DDDI10ALA156NWDB), retrieved from FRED.