India vs Latvia: Insurance and financial services
Insurance and financial services over time
- India
- Latvia
How they compare
Latvia currently reports 3.0% against 2.9% in India, a difference of 0.1%.
The two have swapped places 7 times across 26 shared years of data; in 1992 it was India ahead.
India ranks 158th and Latvia ranks 156th of 197 countries.
Across the 4 decades both report, India averaged higher in 2 and Latvia in 2.
Head to head by decade
| Decade | India | Latvia | Difference | Ahead |
|---|---|---|---|---|
| 1990s | 5.4% | 7.2% | 1.8% | Latvia |
| 2000s | 9.1% | 8.2% | 0.9% | India |
| 2010s | 7.4% | 7.7% | 0.3% | Latvia |
| 2020s | 4.5% | 3.5% | 1.0% | India |
Averages of every year both report within each decade.
Frequently asked questions
- Which has higher insurance and financial services, India or Latvia?
- Latvia, at 3.0% against 2.9% in India as of 2025.
- What is the difference in insurance and financial services between India and Latvia?
- 0.1%, with Latvia ahead.
- How many years of comparable data are there for India and Latvia?
- 26 years are reported by both, from 1992 to 2025.
- How do India and Latvia rank globally for insurance and financial services?
- India ranks 158th and Latvia ranks 156th of 197 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 imports). 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 imports which are commercial services provided by non-residents to residents.