Life insurance premium volume to GDP (%) in Barbados
Barbados: Life insurance premium volume to GDP (%) was 2.8% in 2020. ▲ Rising
Life insurance premium volume to GDP in Barbados, 1990–2020
Source: Sigma Reports, Swiss Re. Measured in %.
Analysis
In 2020, life insurance premium volume to gdp in Barbados stood at 2.8%.
Compared with earlier readings it is up 11.6% on the previous year and up 47.2% over ten years.
Over the whole period, life insurance premium volume to gdp in Barbados peaked at 4.4% in 2015 and was at its lowest, 0.1%, in 2008.
Barbados ranks 25th of 162 countries on this measure, in the top quarter.
The long-run direction has been consistently rising across the 31 years of available data.
Life insurance premium volume to GDP (%) in Barbados, year by year
| Year | % | Change |
|---|---|---|
| 1990 | 2.0% | — |
| 1991 | 2.1% | +8.0% |
| 1992 | 2.2% | +3.6% |
| 1993 | 2.1% | -5.1% |
| 1994 | 2.2% | +4.5% |
| 1995 | 2.3% | +4.5% |
| 1996 | 1.9% | -15.0% |
| 1997 | 2.1% | +5.5% |
| 1998 | 2.1% | +2.6% |
| 1999 | 2.0% | -6.6% |
| 2000 | 2.0% | +2.6% |
| 2001 | 2.3% | +14.9% |
| 2002 | 2.8% | +19.4% |
| 2003 | 2.8% | +0.8% |
| 2004 | 2.7% | -2.7% |
| 2005 | 2.8% | +3.1% |
| 2006 | 2.7% | -4.9% |
| 2007 | 1.6% | -40.2% |
| 2008 | 0.1% | -94.0% |
| 2009 | 2.1% | +2098.0% |
| 2010 | 1.9% | -10.6% |
| 2011 | 1.8% | -6.6% |
| 2012 | 1.8% | +1.0% |
| 2013 | 1.3% | -27.9% |
| 2014 | 2.0% | +58.9% |
| 2015 | 4.4% | +117.7% |
| 2016 | 2.4% | -45.0% |
| 2017 | 2.5% | +3.7% |
| 2018 | 2.5% | -2.4% |
| 2019 | 2.5% | +0.5% |
| 2020 | 2.8% | +11.6% |
Barbados compared with similar countries
- Barbados's 2.8% is above the median for high income countries, which is 1.6%, 1.7× the median. (59 countries reporting)
- Barbados's 2.8% is above the median for Latin America & Caribbean, which is 1.0%, 2.8× the median. (32 countries reporting)
Biggest year-on-year movements
Years where Life insurance premium volume to GDP (%) in Barbados changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2009 | +2098.0% | 0.1% | 2.1% |
| 2015 | +117.7% | 2.0% | 4.4% |
| 2008 | -94.0% | 1.6% | 0.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 2.1% | 1.9% | 2.3% | 10 |
| 2000s | 2.2% | 0.1% | 2.8% | 10 |
| 2010s | 2.3% | 1.3% | 4.4% | 10 |
| 2020s | 2.8% | 2.8% | 2.8% | 1 |
Countries ranked near Barbados
More financial sector data for Barbados
- Reserve position in the IMF, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0022 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 61.36 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0016 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 44.81 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0022 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 61.36 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (2025)
Frequently asked questions
- What is life insurance premium volume to gdp in Barbados?
- Life insurance premium volume to gdp in Barbados was 2.8% in 2020, according to Sigma Reports, Swiss Re.
- What is the highest life insurance premium volume to gdp recorded in Barbados?
- The highest recorded value was 4.4% in 2015.
- What is the lowest life insurance premium volume to gdp recorded in Barbados?
- The lowest recorded value was 0.1% in 2008.
- How does Barbados rank for life insurance premium volume to gdp?
- Barbados ranks 25th out of 162 countries with data for 2020.
- Is life insurance premium volume to gdp rising or falling in Barbados?
- Over the last ten years it is up 47.2%. The long-run trend across the full record is rising.
- Where does this Barbados data come from?
- The figures come from Sigma Reports, Swiss Re, published as part of Life insurance premium volume to GDP (%). Statizoid updates them automatically from the source API.
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About this data
Premium data is taken from various issues of Sigma reports (Swiss Re). Data on GDP in US dollars is from the electronic version of the World Development Indicators.