{"version":1,"asset_type":"statistical_series","data_type":"time_series","slug":"sg-insurance-penetration-gdp","url":"https://apiardata.com/statistics/sg-insurance-penetration-gdp","html_url":"https://apiardata.com/statistics/sg-insurance-penetration-gdp/","title":"Singapore Insurance Premium Penetration (% of GDP) (2023)","description":"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.","domain":"markets","category":"Financial Markets","keywords":["Financial Markets","OECD","Singapore","2023"],"publisher":"OECD","frequency":"Annual","geography":"Singapore","temporal_coverage":"2000/2023","unit":"% of GDP","last_updated":"2026-07-27","last_updated_text":"27 July 2026","data_as_of":"2023","variable_measured":"Singapore Insurance Premium Penetration (% of GDP)","license":"https://apiardata.com/data-license","is_accessible_for_free":true,"sources":[{"name":"OECD","url":"https://data-explorer.oecd.org/vis?fs[0]=Topic%2C0%7CFinancial+sector%23FIN%23&pg=0&fc=Topic&bp=true&snb=10"}],"meta":[{"label":"Frequency","value":"Annual"},{"label":"Coverage","value":"2000–2023"},{"label":"Observations","value":"17"},{"label":"Geography","value":"Singapore"},{"label":"Last updated","value":"27 July 2026"}],"kpis":[{"label":"Singapore (2023)","value":"8.2","unit":"% of GDP","trend":{"direction":"down","value":"-0.6pp YoY"}},{"label":"YoY Change","value":"-0.6pp","unit":"percentage points"},{"label":"Trend","value":"down","unit":""},{"label":"Series length","value":"17","unit":"years of data"}],"series":[{"key":"value","label":"Singapore Insurance Premium Penetration (% of GDP)"}],"observation_count":17,"observations":[{"period":"2000","value":6.258},{"period":"2001","value":10.237},{"period":"2004","value":7.367},{"period":"2009","value":4.261},{"period":"2010","value":6.329},{"period":"2011","value":6.293},{"period":"2012","value":6.711},{"period":"2013","value":7.103},{"period":"2014","value":7.799},{"period":"2015","value":7.908},{"period":"2016","value":8.124},{"period":"2017","value":8.836},{"period":"2019","value":8.741},{"period":"2020","value":10.646},{"period":"2021","value":10.374},{"period":"2022","value":8.844},{"period":"2023","value":8.249}],"table":{"columns":[{"key":"year","label":"Year"},{"key":"value","label":"% of GDP"},{"key":"yoyChange","label":"Change"}],"rows":[{"year":"2023","value":"8.2","yoyChange":"-0.6pp"},{"year":"2022","value":"8.8","yoyChange":"-1.6pp"},{"year":"2021","value":"10.4","yoyChange":"-0.2pp"},{"year":"2020","value":"10.6","yoyChange":"+1.9pp"},{"year":"2019","value":"8.7","yoyChange":"n/a"},{"year":"2017","value":"8.8","yoyChange":"+0.7pp"},{"year":"2016","value":"8.1","yoyChange":"+0.2pp"},{"year":"2015","value":"7.9","yoyChange":"+0.1pp"},{"year":"2014","value":"7.8","yoyChange":"+0.7pp"},{"year":"2013","value":"7.1","yoyChange":"+0.4pp"},{"year":"2012","value":"6.7","yoyChange":"+0.4pp"},{"year":"2011","value":"6.3","yoyChange":"unchanged"},{"year":"2010","value":"6.3","yoyChange":"+2pp"},{"year":"2009","value":"4.3","yoyChange":"n/a"},{"year":"2004","value":"7.4","yoyChange":"n/a"},{"year":"2001","value":"10.2","yoyChange":"+3.9pp"},{"year":"2000","value":"6.3","yoyChange":"n/a"}]},"qa":[{"question":"What does this indicator measure?","answer":"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."},{"question":"How current is this data?","answer":"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)."},{"question":"What is the long-term trend?","answer":"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."}]}