Non-Life Insurance Premium Volume to GDP for Saudi Arabia
DDDI10SAA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.56
Year-over-Year Change
97.42%
Date Range
1/1/1991 - 1/1/2020
Summary
The Non-Life Insurance Premium Volume to GDP for Saudi Arabia is an economic indicator that measures the total non-life insurance premiums written in the country as a percentage of its gross domestic product.
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 metric provides insights into the development and penetration of the non-life insurance sector within the Saudi Arabian economy. It is used by economists and policymakers to assess the insurance industry's contribution to overall economic activity.
Methodology
The data is collected and reported by the World Bank as part of its World Development Indicators database.
Historical Context
This indicator is relevant for analyzing the growth and maturity of Saudi Arabia's insurance market and its role in supporting economic stability and risk management.
Key Facts
- Saudi Arabia's non-life insurance premium volume to GDP ratio was 1.4% in 2020.
- The non-life insurance sector in Saudi Arabia has grown significantly in recent years.
- Strengthening the insurance industry is a key priority in Saudi Arabia's economic diversification efforts.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the total non-life insurance premiums written in Saudi Arabia as a percentage of 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 non-life insurance sector within the Saudi Arabian economy, which is important for understanding the country's financial stability and risk management capabilities.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank as part of its World Development Indicators database.
Q: How is this trend used in economic policy?
A: This indicator is relevant for analyzing the growth and maturity of Saudi Arabia's insurance market and its role in supporting economic stability and diversification efforts.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, so there may be a delay in the most recent data being available.
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Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Saudi Arabia (DDDI10SAA156NWDB), retrieved from FRED.