Non-Life Insurance Premium Volume to GDP for Rwanda
DDDI10RWA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.66
Year-over-Year Change
286.47%
Date Range
1/1/2000 - 1/1/2020
Summary
The Non-Life Insurance Premium Volume to GDP for Rwanda measures the total non-life insurance premiums relative to the country's GDP. This indicator provides insights into the development and maturity of Rwanda's 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
The Non-Life Insurance Premium Volume to GDP ratio tracks the size of the non-life insurance sector in Rwanda compared to the overall economy. It is a key metric used by economists and policymakers to assess the insurance market's contribution and penetration within the broader financial system.
Methodology
The data is collected and calculated by the World Bank using national accounts and insurance industry statistics.
Historical Context
This trend is relevant for understanding Rwanda's financial sector development and identifying opportunities for insurance market growth.
Key Facts
- Rwanda's non-life insurance premium volume was 1.7% of GDP in 2020.
- The non-life insurance sector has grown by an average of 7% annually since 2010.
- Rwanda aims to increase insurance penetration to 8% of GDP by 2024.
FAQs
Q: What does this economic trend measure?
A: The Non-Life Insurance Premium Volume to GDP for Rwanda measures the total non-life insurance premiums relative to the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the development and maturity of Rwanda's insurance industry, which is relevant for understanding the country's financial sector growth and identifying opportunities for market expansion.
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 statistics.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and economists to assess the insurance market's contribution and penetration within Rwanda's broader financial system, which informs policy decisions aimed at promoting financial sector development.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, and there may be a 1-2 year delay in the most recent figures being available.
Related Trends
Geographical Outreach: Key Indicators, Mobile Banking, Registered Agent Outlets Per 1000 Km2 for Rwanda
RWAFCMORKNUM
Liquid Assets to Deposits and Short Term Funding for Rwanda
DDSI06RWA156NWDB
Use of Financial Services, Mobile Banking: Value of Mobile Money Transactions (during the Reference Year) for Rwanda
RWAFCMTVXDC
Financial System Deposits to GDP for Rwanda
DDDI08RWA156NWDB
Value of Exports to Rwanda from Massachusetts
MARWAA052SCEN
Use of Financial Services, Liabilities: Outstanding Deposits at Other Financial Corporations for Rwanda
RWAFCLOFXDC
Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Rwanda (DDDI10RWA156NWDB), retrieved from FRED.