| Insurance Sector's Share of Gross Domestic Product (GDP), 2019-2023 |
($ billions)
|
| |
|
Insurance carriers and
related activities |
| Year |
Total GDP |
GDP |
Percent of
total GDP |
| 2019 |
$21,521.4 |
$629.0 |
2.9% |
| 2020 |
21,323.0 |
629.3 |
3.0 |
| 2021 |
23,594.0 |
638.5 |
2.7 |
| 2022 |
25,744.1 |
687.3 |
2.7 |
| 2023 |
27,360.9 |
691.0 |
2.5 |
Note: 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.
Source: U.S. Department of Commerce, Bureau of Economic Analysis. |
|