A Firm Foundation: How Insurance Supports the Economy

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), 2012-2016

($ billions)

    Insurance carriers and
related activities
Year Total GDP GDP Percent of total GDP
2012 $16,155.3 $402.6 2.5%
2013 16,691.5 406.2 2.4
2014 17,393.1 465.7 2.7
2015 18,036.6 489.3 2.7
2016 18,569.1 507.7 (1) 2.7

(1) Preliminary.

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

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