Canada CA: Imports: USD: All Services: Insurance And Pension Services

1969 - 2023 | Yearly | USD mn | Organisation for Economic Co-operation and Development

Canada CA: Imports: USD: All Services: Insurance And Pension Services data was reported at 5.245 USD bn in 2023. This records a decrease from the previous number of 5.251 USD bn for 2022. Canada CA: Imports: USD: All Services: Insurance And Pension Services data is updated yearly, averaging 960.700 USD mn from Dec 1969 (Median) to 2023, with 55 observations. The data reached an all-time high of 5.315 USD bn in 2021 and a record low of 0.000 USD mn in 1980. Canada CA: Imports: USD: All Services: Insurance And Pension Services data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Canada – Table CA.OECD.TISP: Trade in Services: Imports: USD: by Services: OECD Member: Annual. Insurance and pension services covers the provision to non-residents of various types of insurance by resident insurance enterprises, and vice versa.MSITS 2010 recommends that insurance and pension services be disaggregated into four separate sub-components: direct insurance; reinsurance; auxiliary insurance; and pension and standardized guarantee services. Direct insurance is further broken down into life insurance, freight insurance and other direct insurance. Pension and standardized guarantee services is further broken down into pension services and standardized guarantee services.Insurance provides individual units (Governments, enterprises and households) exposed to certain risks with financial protection against the consequences of the occurrence of specified events. In addition, insurers often act as financial intermediaries who invest funds collected from these units in financial or other assets in order to meet future claims. Pension funds are established to provide benefits for retirement or invalidity of specific groups of employees. They are similar to insurance in that they act as intermediaries with regard to investing the funds for their beneficiaries and redistribute some risks. Insurance and pension fund operations have common features, but they can be distinguished. While life insurance and pension funds include a large saving component, the objective of non-life insurance (including term life insurance) is largely to pool risk. The transactions undertaken by insurers include charging premiums, paying claims and investing funds. Similarly, pension fund transactions include receiving contributions, paying benefits and investing funds. In order to analyse the economic processes underlying these operations, it is necessary to examine their components so as to separate services from other elements such as income transfers.Cross-border insurance transactions are particularly common in specialized areas involving reinsurance and high-value items such as ships and aircraft. For some small economies, the small size of their risk pool means that a wider range of items tend to be insured by non-residents. With the international mobility of populations, cross-border transactions in life insurance and pensions can also occur on a significant scale.Direct insurance and reinsurance may apply to both life and non-life policies. A direct insurance transaction occurs between an insurance company and the public. Reinsurance is defined as insurance where both parties to the policy are providers of insurance services; that is to say, reinsurance allows insurance risk to be transferred from one insurer to another. Many insurers act as both direct insurers and reinsurers. Reinsurance and direct insurance services are estimated or valued by the service charges included in the total premiums.

View Canada's Canada CA: Imports: USD: All Services: Insurance And Pension Services from 1969 to 2023 in the chart:

Canada Canada CA: Imports: USD: All Services: Insurance And Pension Services

What was Canada's Canada CA: Imports: USD: All Services: Insurance And Pension Services in 2023?

Last Previous Min Max Unit Frequency Range
5,245.500 2023 5,251.400 2022 0.000 1980 5,314.700 2021 USD mn yearly 1969 - 2023

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Canada Key Series

National Accounts Last Frequency Range
Forecast: GDP PPP Per Capita (PPP Intl $) 72,005.614 2029 yearly 1980 - 2029
Forecast: Nominal GDP Per Capita (USD) 64,674.355 2029 yearly 1980 - 2029
Forecast: Real GDP Growth (%) 1.643 2029 yearly 1980 - 2029
GDP Deflator Growth (%) 4.2 Dec 2022 quarterly Mar 1962 - Dec 2022
GDP per Capita (USD) 54,104.301 2022 yearly 1971 - 2022
Gross Fixed Capital Formation (USD mn) 126,778.688 Sep 2024 quarterly Mar 1957 - Sep 2024
Gross National Product (GNP) (USD mn) 561,858.400 Dec 2024 quarterly Mar 1961 - Dec 2024
Gross Savings Rate (%) 25.2 Sep 2024 quarterly Mar 1961 - Sep 2024
Investment: % of GDP (%) 26.0 Sep 2024 quarterly Mar 1961 - Sep 2024
Nominal GDP (USD mn) 513,543.5 Dec 2022 quarterly Mar 1957 - Dec 2022
Nominal GDP Growth (%) 4.311 Sep 2024 quarterly Mar 1958 - Sep 2024
Private Consumption Expenditure (USD mn) 311,060.343 Dec 2024 quarterly Mar 1961 - Dec 2024
Private Consumption: % of GDP (%) 55.2 Dec 2024 quarterly Mar 1961 - Dec 2024
Public Consumption Expenditure (USD mn) 121,790.981 Dec 2024 quarterly Mar 1961 - Dec 2024
Public Consumption: % of GDP (%) 20.6 Sep 2024 quarterly Mar 1961 - Sep 2024
Real GDP Growth (%) 2.1 Dec 2022 quarterly Mar 1962 - Dec 2022
Total Trade of Goods & Services: % of Nominal GDP (%) 64.366 Dec 2024 quarterly Mar 1961 - Dec 2024
Production Last Frequency Range
Gold Production (kg) 200,000.000 2024 yearly 1990 - 2024
Industrial Production Index Growth (%) -0.1 Jan 2025 monthly Jan 1958 - Jan 2025
Minerals Production (Metric Ton) 550,100,636.000 2022 yearly 2009 - 2022
Motor Vehicle Production (Unit) 1,553,026.000 2023 yearly 1997 - 2023
Silver Production (Metric Ton) 325.026 2021 yearly 1986 - 2021
Sales, Orders, Inventory & Shipments Last Frequency Range
New Orders Growth (%) 1.2 Dec 2024 monthly Jan 1993 - Dec 2024
Construction and Properties Last Frequency Range
House Prices Growth (%) 0.1 Jan 2025 monthly Jan 1982 - Jan 2025
Nominal Residential Property Price Index (2010=100) 216.094 Sep 2024 quarterly Mar 1970 - Sep 2024
Nominal Residential Property Price Index Growth (%) -3.705 Sep 2024 quarterly Mar 1971 - Sep 2024
Real Residential Property Price Index (2010=100) 155.677 Sep 2024 quarterly Mar 1970 - Sep 2024
Real Residential Property Price Index Growth (%) -5.631 Sep 2024 quarterly Mar 1971 - Sep 2024
Building Permits (Unit) 20,666.000 Dec 2024 monthly Jan 2018 - Dec 2024
Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -1.6 Dec 2024 quarterly Jun 1993 - Dec 2024
Forecast: Government Expenditure (CAD bn) 1,546.047 2029 yearly 1980 - 2029
Forecast: Government Net Debt (CAD bn) 3,127.329 2028 yearly 1980 - 2028
Forecast: Government Revenue (CAD bn) 1,523.743 2029 yearly 1980 - 2029
Government Debt: % of GDP (%) 69.4 2024 yearly 1962 - 2024
National Government Debt (USD mn) 1,519,779.9 2024 yearly 1962 - 2024
Tax Revenue (USD mn) 26,706.675 Dec 2024 monthly Jan 1996 - Dec 2024
Consolidated Fiscal Balance (USD mn) 703.306 Dec 2024 monthly May 1992 - Dec 2024
Tax Revenue: % of GDP (%) 13.0 Dec 2024 quarterly Mar 1996 - Dec 2024

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