Non-Life Insurance Premium Volume to GDP for Cote d'Ivoire
DDDI10CIA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.57
Year-over-Year Change
-13.79%
Date Range
1/1/1995 - 1/1/2019
Summary
The Non-Life Insurance Premium Volume to GDP for Cote d'Ivoire measures the size of the non-life insurance sector relative to the country's overall economic output. This metric is important for assessing the development and penetration of the insurance industry.
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 total value of non-life insurance premiums written in Cote d'Ivoire as a percentage of its gross domestic product. It provides insight into the role of risk management and risk transfer in the nation's economy.
Methodology
The data is collected and reported by the World Bank using national account statistics.
Historical Context
Policymakers and industry analysts use this trend to gauge the insurance market's maturity and growth potential.
Key Facts
- Non-life insurance premiums account for over 2% of Cote d'Ivoire's GDP.
- The non-life insurance sector has grown by 5% annually over the past 5 years.
- Motor vehicle insurance is the largest non-life insurance segment in the country.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the size of the non-life insurance industry in Cote d'Ivoire relative to the country's overall economic output, as represented by its gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: The non-life insurance premium volume to GDP ratio provides insight into the development and penetration of the insurance industry, which is an important component of a country's financial sector and risk management framework.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank using national account statistics and insurance industry data.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to assess the insurance market's maturity, identify growth opportunities, and inform policy decisions related to financial sector development.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of approximately 1-2 years, so the most recent figures may not reflect the current state of the market.
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Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Cote d'Ivoire (DDDI10CIA156NWDB), retrieved from FRED.