Contribution To GDP

CONTRIBUTION TO GROSS DOMESTIC PRODUCT

Gross domestic product (GDP) is the total value of all final goods and services produced in the economy. The GDP growth rate is the primary indicator of the state of the economy.

INSURANCE SECTOR'S SHARE OF GROSS DOMESTIC PRODUCT (GDP), 2008-2012

($ billions)

    Insurance carriers and related activities
Year Total GDP GDP Percent of total GDP
2008 $14,720.3 $339.7 2.3%
2009 14,417.9 357.5 2.5
2010 14,958.3 364.8 2.4
2011 15,533.8 378.5 2.4
2012 16,244.6 413.1 2.5

Source: U.S. Department of Commerce, Bureau of Economic Analysis.

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