Singapore Insurance Premium Penetration (% of GDP) (2023)
Singapore's Insurance Premium Penetration (% of GDP): 8.2 % of GDP in 2023, -0.6pp YoY. OECD (OECD.DAF.CM:DSD_INS@DF_IND), 2000–2023.
Singapore (2023)
8.2
% of GDP
-0.6pp YoY
YoY Change
-0.6pp
percentage points
Trend
down
Series length
17
years of data
Data
| Year | % of GDP | Change |
|---|---|---|
| 2023 | 8.2 | -0.6pp |
| 2022 | 8.8 | -1.6pp |
| 2021 | 10.4 | -0.2pp |
| 2020 | 10.6 | +1.9pp |
| 2019 | 8.7 | n/a |
| 2017 | 8.8 | +0.7pp |
| 2016 | 8.1 | +0.2pp |
| 2015 | 7.9 | +0.1pp |
| 2014 | 7.8 | +0.7pp |
| 2013 | 7.1 | +0.4pp |
| 2012 | 6.7 | +0.4pp |
| 2011 | 6.3 | unchanged |
| 2010 | 6.3 | +2pp |
| 2009 | 4.3 | n/a |
| 2004 | 7.4 | n/a |
| 2001 | 10.2 | +3.9pp |
| 2000 | 6.3 | n/a |
About this Dataset
Singapore recorded 8.2 % of GDP in 2023. The latest change was -0.6pp. Across 2000–2023 the series ranges from 4.3 in 2009 to 10.6 in 2020.
This page tracks total insurance gross written premiums as a share of GDP in Singapore from 2000 to present. Insurance penetration is the primary measure of financial services sector development and household risk protection depth.
Data sourced from OECD via SDMX REST API. Values use harmonised methodology intended for cross-country comparison.
Frequently Asked Questions
This page tracks total insurance gross written premiums as a share of GDP in Singapore from 2000 to present. Insurance penetration is the primary measure of financial services sector development and household risk protection depth. It is published by OECD and updated annually.
The most recent observation covers 2023. OECD typically publishes this series with a lag of several months after the reference period. The series runs 2000–2023 (17 observations).
The series peaked at 10.6 % of GDP in 2020 and reached its lowest recorded value of 4.3 in 2009. The latest reading of 8.2 in 2023 represents a change of -0.6pp.