Insurance indicators — Penetration in Latvia
Latvia: Insurance indicators — Penetration was 3.05 Percentage of GDP in 2024. ▲ Rising
Insurance indicators — Penetration in Latvia, 2009–2024
Source: Organisation for Economic Co-operation and Development. Measured in Percentage of GDP.
Analysis
Latvia recorded 3.05 Percentage of GDP for insurance indicators — penetration in 2024. That is the highest value across all 16 years on record.
The figure is up 7.4% on the previous year and up 34.4% over ten years.
Over the whole period, insurance indicators — penetration in Latvia peaked at 3.05 Percentage of GDP in 2024 and was at its lowest, 1.84 Percentage of GDP, in 2010.
The long-run direction has been consistently rising across the 16 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 1.99 Percentage of GDP | 1.99 Percentage of GDP | 1.99 Percentage of GDP | 1 |
| 2010s | 2.29 Percentage of GDP | 1.84 Percentage of GDP | 2.9 Percentage of GDP | 10 |
| 2020s | 2.8 Percentage of GDP | 2.63 Percentage of GDP | 3.05 Percentage of GDP | 5 |
Countries ranked near Latvia
- 2 Hong Kong Special Administrative Region, People's Republic of China 18.53 Percentage of GDP compare
- 3 United States 12.68 Percentage of GDP compare
- 4 South Africa 12.66 Percentage of GDP compare
- 5 Sweden 12.38 Percentage of GDP compare
- 6 United Kingdom 11.75 Percentage of GDP compare
- 7 Ireland 11.69 Percentage of GDP compare
- 8 Denmark 11.61 Percentage of GDP compare
More reference data data for Latvia
- Africa's Development Dynamics (AfDD) Table 08 - Sectoral breakdown of 4.99 Percentage of GDP (2022)
- Africa's Development Dynamics (AfDD) Table 08 - Sectoral breakdown of 19.46 Percentage of GDP (2022)
- Africa's Development Dynamics (AfDD) Table 08 - Sectoral breakdown of 41.31 Percentage of GDP (2022)
- Africa's Development Dynamics (AfDD) Table 08 - Sectoral breakdown of 13.15 Percentage of GDP (2022)
- Africa's Development Dynamics (AfDD) Table 08 - Sectoral breakdown of 14.71 Percentage of GDP (2022)
- Africa's Development Dynamics (AfDD) Table 08 - Sectoral breakdown of 0 Percentage of GDP (2021)
- Africa's Development Dynamics (AfDD) Table 08 - Sectoral breakdown of 0 Percentage of GDP (2021)
- Africa's Development Dynamics (AfDD) Table 08 - Sectoral breakdown of 1.17 Percentage of GDP (2021)
- Africa's Development Dynamics (AfDD) Table 08 - Sectoral breakdown of 0 Percentage of GDP (2021)
- Africa's Development Dynamics (AfDD) Table 08 - Sectoral breakdown of 0.0654 Percentage of GDP (2021)
Frequently asked questions
- What is insurance indicators — penetration in Latvia?
- Insurance indicators — penetration in Latvia was 3.05 Percentage of GDP in 2024, according to Organisation for Economic Co-operation and Development.
- What is the highest insurance indicators — penetration recorded in Latvia?
- The highest recorded value was 3.05 Percentage of GDP in 2024.
- What is the lowest insurance indicators — penetration recorded in Latvia?
- The lowest recorded value was 1.84 Percentage of GDP in 2010.
- How does Latvia rank for insurance indicators — penetration?
- Latvia ranks 5th out of 9 groups with data for 2024.
- Is insurance indicators — penetration rising or falling in Latvia?
- Over the last ten years it is up 34.4%. The long-run trend across the full record is rising.
- Where does this Latvia data come from?
- The figures come from Organisation for Economic Co-operation and Development, published as part of Insurance indicators — Penetration. Statizoid updates them automatically from the source API.
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About this data
This dataset includes key indicators on the insurance industry, such as insurance penetration (gross written premiums as a percentage of GDP), insurance density (gross written premiums in USD per capita), the share of life and non-life insurance in the total insurance business (life and non-life gross written premiums as a percentage of gross premiums), the retention ratio (net written premiums as a percentage of gross premiums) and the reinsurance share (reinsurance accepted as a percentage of gross premiums). This dataset also shows the domestic market share of foreign-controlled undertakings and branches/agencies in each reporting jurisdiction, and the geographical distribution of premiums written within the OECD.