Europe & Central Asia vs Nigeria: Insurance and financial services
Insurance and financial services over time
- Europe & Central Asia
- Nigeria
How they compare
Nigeria currently reports 25.3% against 11.1% in Europe & Central Asia, a difference of 14.2%.
That makes Nigeria's figure about 2.3 times Europe & Central Asia's.
The two have swapped places 5 times across 37 shared years of data; in 1977 it was Europe & Central Asia ahead.
Europe & Central Asia ranks 10th and Nigeria ranks 8th of 45 groups.
Across the 6 decades both report, Europe & Central Asia averaged higher in 4 and Nigeria in 2.
Head to head by decade
| Decade | Europe & Central Asia | Nigeria | Difference | Ahead |
|---|---|---|---|---|
| 1970s | 2.9% | 3.0% | 0.1% | Nigeria |
| 1980s | 5.1% | 2.4% | 2.8% | Europe & Central Asia |
| 1990s | 8.0% | 0.6% | 7.5% | Europe & Central Asia |
| 2000s | 10.3% | 0.7% | 9.5% | Europe & Central Asia |
| 2010s | 9.7% | 7.0% | 2.6% | Europe & Central Asia |
| 2020s | 9.9% | 26.0% | 16.1% | Nigeria |
Averages of every year both report within each decade.
Frequently asked questions
- Which has higher insurance and financial services, Europe & Central Asia or Nigeria?
- Nigeria, at 25.3% against 11.1% in Europe & Central Asia as of 2025.
- What is the difference in insurance and financial services between Europe & Central Asia and Nigeria?
- 14.2%, with Nigeria ahead.
- How many years of comparable data are there for Europe & Central Asia and Nigeria?
- 37 years are reported by both, from 1977 to 2025.
- How do Europe & Central Asia and Nigeria rank globally for insurance and financial services?
- Europe & Central Asia ranks 10th and Nigeria ranks 8th of 45 groups.
- Where does this data come from?
- Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as Insurance and financial services (% of commercial service exports). Statizoid refreshes it automatically from the source and publishes the full history for both places.
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About this data
Financial services covers services related to financial intermediation, financial risk management, liquidity transformation or auxiliary financial activities. It also includes insurance and pension scheme services which are services related to providing life insurance and annuities, non-life insurance, reinsurance, pensions, standardised guarantees and auxiliary services to insurance, pension schemes, and standardised guarantee schemes. This indicator is expressed as a percentage of service exports which are commercial services provided by residents to non-residents.