Nigeria vs Sierra Leone: Insurance and financial services
Insurance and financial services over time
- Nigeria
- Sierra Leone
How they compare
Sierra Leone currently reports 32.7% against 25.3% in Nigeria, a difference of 7.4%.
That makes Sierra Leone's figure about 1.3 times Nigeria's.
The two have swapped places 7 times across 37 shared years of data; in 1977 it was Nigeria ahead.
Nigeria ranks 8th and Sierra Leone ranks 5th of 190 countries.
Across the 5 decades both report, Nigeria averaged higher in 4 and Sierra Leone in 1.
Head to head by decade
| Decade | Nigeria | Sierra Leone | Difference | Ahead |
|---|---|---|---|---|
| 1970s | 4.4% | 0.4% | 4.0% | Nigeria |
| 1990s | 0.6% | 0.2% | 0.5% | Nigeria |
| 2000s | 0.7% | 1.6% | 0.8% | Sierra Leone |
| 2010s | 7.0% | 3.9% | 3.1% | Nigeria |
| 2020s | 26.1% | 20.9% | 5.2% | Nigeria |
Averages of every year both report within each decade.
Frequently asked questions
- Which has higher insurance and financial services, Nigeria or Sierra Leone?
- Sierra Leone, at 32.7% against 25.3% in Nigeria as of 2024.
- What is the difference in insurance and financial services between Nigeria and Sierra Leone?
- 7.4%, with Sierra Leone ahead.
- How many years of comparable data are there for Nigeria and Sierra Leone?
- 37 years are reported by both, from 1977 to 2024.
- How do Nigeria and Sierra Leone rank globally for insurance and financial services?
- Nigeria ranks 8th and Sierra Leone ranks 5th of 190 countries.
- 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.