Insurance Sector's Share Of Gross Domestic Product (GDP), 2016-2020

($ billions)

    Insurance carriers and related activities
Year Total GDP GDP Percent of total GDP
2016 $18,745.1 $570.9 3.0%
2017 19,543.0 560.6 2.9
2018 20,611.9 603.0 2.9
2019 21,433.2 615.0 2.9
2020 20,936.6 645.5 3.1
Source: U.S. Department of Commerce, Bureau of Economic Analysis.