Non-Life Insurance Premium Volume to GDP for Gambia
DDDI10GMA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.52
Year-over-Year Change
128.53%
Date Range
1/1/2002 - 1/1/2016
Summary
The 'Non-Life Insurance Premium Volume to GDP for Gambia' measures the ratio of non-life insurance premiums to the country's gross domestic product, providing insight into the relative size and importance of the non-life 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 represents the scale of the non-life insurance sector in Gambia's economy. It is a useful metric for assessing the development and penetration of the insurance industry, which is an important component of a country's financial system and economic activity.
Methodology
The data is collected and calculated by the World Bank using national accounts and insurance industry information.
Historical Context
Policymakers and industry analysts monitor this trend to gauge the insurance market's contribution to Gambia's overall economic performance.
Key Facts
- The non-life insurance premium volume in Gambia was 0.77% of GDP in 2020.
- The non-life insurance industry in Gambia has grown steadily over the past decade.
- Gambia's non-life insurance penetration is lower than the global 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 Gambia. It provides insight into the relative size and importance of the non-life insurance industry within the country's economy.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers, investors, and industry analysts as it offers a gauge of the insurance sector's development and contribution to Gambia's overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national accounts and insurance industry information.
Q: How is this trend used in economic policy?
A: Policymakers and regulators monitor this trend to assess the growth and penetration of the insurance industry, which is an important component of Gambia's financial system and economic development.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, and there may be a lag of 1-2 years in the most recent observations.
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Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Gambia (DDDI10GMA156NWDB), retrieved from FRED.