Insurance and financial services (% of commercial service exports) by country
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,...
Countries reporting
190
Highest
96.1%
Libya
Lowest
0.0%
Angola
Median
2.9%
Years covered
66
1960–2025
Data points
8,492
What the numbers show
Insurance and financial services (% of commercial service exports) is currently reported for 190 countries. The highest value is 96.1% in Libya; the lowest is 0.0% in Angola.
The median across all reporting countries is 2.9%, and the mean is 6.8%.
The gap between the highest and lowest reporting country is a factor of about 12,337.
Over the past decade 99 countries rose and 90 fell. The largest increase was in Ethiopia (up 11,873.2%), and the largest decrease in Papua New Guinea (down 99.2%).
Insurance and financial services (% of commercial service exports): full country ranking
| # | Country | Latest | Year | 10-year change | Trend |
|---|---|---|---|---|---|
| 1 | Libya | 96.1% | 2023 | up 381.6% | volatile |
| 2 | Liberia | 71.7% | 2024 | down 28.3% | falling |
| 3 | Luxembourg | 56.3% | 2025 | down 11.7% | falling |
| 4 | Cayman Islands | 55.2% | 2024 | up 5.6% | rising |
| 5 | Sierra Leone | 32.7% | 2024 | up 4,670.9% | volatile |
| 6 | Bahrain | 29.0% | 2025 | down 45.2% | volatile |
| 7 | Hong Kong | 28.8% | 2025 | up 46.4% | rising |
| 8 | Bermuda | 27.9% | 2025 | up 36.3% | rising |
| 9 | Nigeria | 25.3% | 2025 | up 128.3% | volatile |
| 10 | United Kingdom | 25.2% | 2025 | down 8.8% | rising |
| 11 | Guinea-Bissau | 21.6% | 2024 | up 767.0% | volatile |
| 12 | Switzerland | 21.3% | 2025 | down 10.2% | rising |
| 13 | Haiti | 21.1% | 2024 | up 1,277.1% | volatile |
| 14 | United States | 20.5% | 2025 | up 16.6% | volatile |
| 15 | Cyprus | 19.7% | 2025 | down 37.5% | volatile |
| 16 | Sudan | 19.7% | 2025 | up 2,410.4% | volatile |
| 17 | Central African Republic | 19.6% | 1993 | up 110.9% | rising |
| 18 | Guinea | 18.3% | 2024 | down 27.6% | volatile |
| 19 | Burkina Faso | 18.2% | 2024 | down 3.8% | rising |
| 20 | Kiribati | 15.7% | 2025 | down 22.6% | volatile |
| 21 | Burundi | 15.6% | 2025 | up 4.5% | volatile |
| 22 | Singapore | 15.2% | 2025 | down 6.4% | volatile |
| 23 | Germany | 14.2% | 2025 | up 15.1% | volatile |
| 24 | Ghana | 14.1% | 2025 | up 3,008.6% | volatile |
| 25 | Trinidad and Tobago | 12.9% | 2025 | up 175.5% | volatile |
| 26 | South Sudan | 12.3% | 2023 | down 81.0% | volatile |
| 27 | Armenia | 11.5% | 2025 | up 582.7% | volatile |
| 28 | Benin | 11.4% | 2023 | up 460.2% | volatile |
| 29 | Mali | 11.3% | 2024 | up 579.0% | volatile |
| 30 | France | 11.2% | 2025 | up 73.6% | volatile |
| 31 | Algeria | 10.9% | 2025 | down 12.0% | rising |
| 32 | Iran | 10.7% | 2000 | up 66.6% | volatile |
| 33 | Kenya | 10.6% | 2025 | up 17.4% | volatile |
| 34 | Guyana | 10.5% | 2023 | up 55.6% | volatile |
| 35 | Tajikistan | 10.5% | 2025 | up 763.9% | volatile |
| 36 | Niger | 10.4% | 2024 | up 798.4% | volatile |
| 37 | Mexico | 10.1% | 2025 | down 7.5% | rising |
| 38 | Panama | 9.9% | 2025 | down 20.9% | rising |
| 39 | South Africa | 9.8% | 2025 | up 19.0% | falling |
| 40 | Canada | 9.8% | 2025 | down 14.0% | flat |
| 41 | Kuwait | 9.7% | 2025 | down 10.4% | volatile |
| 42 | Ireland | 9.5% | 2025 | down 39.5% | falling |
| 43 | Lebanon | 9.5% | 2023 | down 13.9% | volatile |
| 44 | Bhutan | 9.3% | 2024 | up 355.2% | volatile |
| 45 | Kazakhstan | 8.9% | 2025 | up 408.1% | volatile |
| 46 | Belgium | 8.8% | 2025 | up 2.3% | rising |
| 47 | Italy | 8.6% | 2025 | up 31.4% | falling |
| 48 | Lithuania | 7.8% | 2025 | up 496.1% | volatile |
| 49 | Norway | 7.5% | 2025 | down 12.9% | volatile |
| 50 | Japan | 7.5% | 2025 | down 0.2% | rising |
| 51 | Togo | 6.8% | 2020 | up 52.3% | volatile |
| 52 | Malta | 6.7% | 2024 | down 77.8% | volatile |
| 53 | Slovenia | 6.4% | 2025 | up 166.2% | volatile |
| 54 | Bulgaria | 6.3% | 2025 | down 24.6% | volatile |
| 55 | Macao | 6.3% | 2025 | up 65.8% | volatile |
| 56 | Qatar | 6.3% | 2025 | up 59.5% | falling |
| 57 | Chile | 6.2% | 2025 | up 6.7% | rising |
| 58 | Netherlands | 6.1% | 2025 | up 34.2% | volatile |
| 59 | Kyrgyzstan | 6.0% | 2024 | up 1,559.0% | volatile |
| 60 | Uruguay | 6.0% | 2025 | down 13.4% | volatile |
| 61 | Antigua and Barbuda | 5.9% | 2025 | up 48.0% | volatile |
| 62 | Brazil | 5.7% | 2025 | up 8.4% | volatile |
| 63 | Russia | 5.6% | 2025 | up 57.2% | rising |
| 64 | Mauritius | 5.6% | 2024 | up 9.1% | volatile |
| 65 | Eswatini | 5.5% | 2025 | down 69.8% | volatile |
| 66 | Bolivia | 5.4% | 2025 | up 2,233.6% | volatile |
| 67 | Sweden | 5.3% | 2025 | down 25.7% | falling |
| 68 | Andorra | 5.2% | 2025 | up 67.0% | rising |
| 69 | Senegal | 5.2% | 2023 | up 206.7% | volatile |
| 70 | Saint Kitts and Nevis | 5.1% | 2025 | down 16.8% | volatile |
| 71 | Dominica | 4.9% | 2025 | up 191.4% | falling |
| 72 | Australia | 4.7% | 2025 | down 27.9% | falling |
| 73 | Saudi Arabia | 4.6% | 2025 | down 26.0% | falling |
| 74 | Iceland | 4.5% | 2025 | up 12.1% | volatile |
| 75 | Guatemala | 4.5% | 2025 | up 18.9% | volatile |
| 76 | South Korea | 4.2% | 2025 | up 72.0% | volatile |
| 77 | Rwanda | 4.1% | 2024 | up 6.5% | falling |
| 78 | Austria | 4.1% | 2025 | down 22.5% | falling |
| 79 | Namibia | 4.1% | 2024 | up 33.1% | volatile |
| 80 | Indonesia | 4.0% | 2025 | up 183.4% | volatile |
| 81 | Cameroon | 3.9% | 2024 | down 28.1% | falling |
| 82 | Spain | 3.9% | 2025 | up 3.1% | rising |
| 83 | Suriname | 3.7% | 2025 | down 20.4% | volatile |
| 84 | Georgia | 3.6% | 2025 | up 268.6% | volatile |
| 85 | Slovakia | 3.5% | 2025 | up 6.0% | falling |
| 86 | Samoa | 3.5% | 2025 | down 25.3% | volatile |
| 87 | Uganda | 3.4% | 2025 | down 8.9% | rising |
| 88 | Czechia | 3.4% | 2025 | up 15.2% | flat |
| 89 | Greece | 3.4% | 2025 | up 140.7% | volatile |
| 90 | Cote d'Ivoire | 3.3% | 2024 | up 164.7% | volatile |
| 91 | Turkey | 3.1% | 2025 | up 17.9% | rising |
| 92 | Egypt | 3.1% | 2025 | up 41.5% | volatile |
| 93 | Ecuador | 3.0% | 2025 | down 30.5% | volatile |
| 94 | Azerbaijan | 3.0% | 2025 | up 548.8% | volatile |
| 95 | Argentina | 2.9% | 2025 | up 364.6% | volatile |
| 96 | Zambia | 2.9% | 2025 | down 70.4% | volatile |
| 97 | Bangladesh | 2.8% | 2025 | down 33.2% | volatile |
| 98 | Dominican Republic | 2.8% | 2025 | up 171.3% | volatile |
| 99 | India | 2.8% | 2025 | down 41.5% | rising |
| 100 | Saint Vincent and the Grenadines | 2.7% | 2025 | down 10.1% | volatile |
| 101 | El Salvador | 2.7% | 2025 | down 20.6% | volatile |
| 102 | Ukraine | 2.5% | 2025 | up 46.7% | volatile |
| 103 | Uzbekistan | 2.4% | 2025 | up 19.5% | rising |
| 104 | Venezuela | 2.4% | 2025 | up 265.8% | volatile |
| 105 | San Marino | 2.3% | 2024 | up 44.6% | rising |
| 106 | Poland | 2.3% | 2025 | down 9.6% | volatile |
| 107 | Hungary | 2.3% | 2025 | up 51.1% | volatile |
| 108 | Malaysia | 2.2% | 2025 | up 7.4% | volatile |
| 109 | Mongolia | 2.2% | 2025 | up 114.5% | volatile |
| 110 | Mozambique | 2.1% | 2025 | down 67.9% | volatile |
| 111 | Latvia | 2.1% | 2025 | down 80.0% | volatile |
| 112 | Denmark | 2.1% | 2025 | up 38.9% | falling |
| 113 | Malawi | 2.1% | 2025 | down 87.9% | volatile |
| 114 | Pakistan | 2.1% | 2025 | down 56.2% | volatile |
| 115 | Brunei | 2.0% | 2025 | up 324.9% | volatile |
| 116 | Grenada | 2.0% | 2025 | up 54.9% | volatile |
| 117 | Estonia | 1.9% | 2025 | up 6.8% | volatile |
| 118 | Peru | 1.9% | 2025 | up 23.3% | volatile |
| 119 | Tuvalu | 1.9% | 2023 | up 1.5% | volatile |
| 120 | Belize | 1.9% | 2025 | up 111.0% | volatile |
| 121 | Thailand | 1.8% | 2025 | up 60.6% | volatile |
| 122 | Chad | 1.7% | 1994 | up 125.3% | volatile |
| 123 | Romania | 1.7% | 2025 | down 6.5% | falling |
| 124 | Oman | 1.6% | 2025 | up 5.4% | volatile |
| 125 | Portugal | 1.5% | 2025 | down 7.1% | volatile |
| 126 | Finland | 1.5% | 2025 | down 21.1% | volatile |
| 127 | Curacao | 1.5% | 2023 | up 377.9% | volatile |
| 128 | China | 1.5% | 2025 | down 56.7% | volatile |
| 129 | Comoros | 1.4% | 2023 | up 633.5% | volatile |
| 130 | Vanuatu | 1.4% | 2022 | down 70.9% | volatile |
| 131 | Congo | 1.4% | 2021 | up 47.3% | volatile |
| 132 | East Timor | 1.4% | 2025 | up 2,207.7% | volatile |
| 133 | Costa Rica | 1.4% | 2025 | up 55.4% | volatile |
| 134 | Aruba | 1.4% | 2023 | up 77.6% | volatile |
| 135 | Jordan | 1.3% | 2024 | up 5.8% | volatile |
| 136 | Barbados | 1.3% | 2017 | down 32.8% | volatile |
| 137 | Nepal | 1.2% | 2025 | down 30.3% | volatile |
| 138 | Croatia | 1.2% | 2025 | up 36.9% | falling |
| 139 | Gabon | 1.2% | 2015 | down 95.3% | volatile |
| 140 | Syria | 1.1% | 2010 | down 41.0% | rising |
| 141 | Tunisia | 1.1% | 2025 | down 70.4% | flat |
| 142 | Colombia | 1.1% | 2025 | up 20.2% | volatile |
| 143 | Montenegro | 1.1% | 2025 | up 247.1% | volatile |
| 144 | Philippines | 1.1% | 2025 | down 41.3% | volatile |
| 145 | French Polynesia | 1.0% | 2016 | down 27.4% | rising |
| 146 | Belarus | 1.0% | 2021 | up 76.7% | volatile |
| 147 | Sri Lanka | 1.0% | 2025 | down 83.7% | volatile |
| 148 | Tanzania | 0.9% | 2024 | down 47.1% | volatile |
| 149 | Solomon Islands | 0.9% | 2024 | up 1,446.3% | volatile |
| 150 | Nicaragua | 0.9% | 2024 | up 86.0% | volatile |
| 151 | Faroe Islands | 0.8% | 2011 | down 90.3% | volatile |
| 152 | Morocco | 0.8% | 2025 | down 40.4% | falling |
| 153 | Honduras | 0.8% | 2025 | up 2,373.6% | volatile |
| 154 | New Caledonia | 0.7% | 2016 | up 32.3% | volatile |
| 155 | Serbia | 0.6% | 2025 | down 64.8% | falling |
| 156 | Madagascar | 0.6% | 2025 | up 55.4% | volatile |
| 157 | Kosovo | 0.6% | 2025 | down 71.9% | volatile |
| 157 | Kosovo (UNSCR 1244) | 0.6% | 2025 | down 71.9% | volatile |
| 159 | Sao Tome and Principe | 0.6% | 2025 | up 6,574.5% | volatile |
| 160 | Paraguay | 0.5% | 2025 | down 41.8% | volatile |
| 161 | Saint Lucia | 0.5% | 2025 | down 29.3% | falling |
| 162 | Afghanistan | 0.4% | 2020 | down 92.5% | volatile |
| 163 | Democratic Republic of Congo | 0.4% | 2025 | down 91.0% | volatile |
| 164 | Palau | 0.4% | 2023 | down 32.2% | volatile |
| 165 | Jamaica | 0.4% | 2025 | down 2.3% | volatile |
| 166 | Albania | 0.4% | 2025 | up 36.4% | volatile |
| 167 | Cape Verde | 0.3% | 2025 | down 71.1% | volatile |
| 168 | Zimbabwe | 0.3% | 1994 | down 77.3% | volatile |
| 169 | Cambodia | 0.3% | 2025 | down 62.3% | volatile |
| 170 | Fiji | 0.3% | 2024 | down 35.5% | volatile |
| 171 | Botswana | 0.3% | 2025 | down 51.0% | volatile |
| 172 | New Zealand | 0.2% | 2025 | down 92.6% | falling |
| 173 | Bosnia and Herzegovina | 0.2% | 2025 | down 36.9% | volatile |
| 174 | Seychelles | 0.2% | 2013 | down 55.5% | volatile |
| 175 | Moldova | 0.2% | 2025 | down 67.3% | volatile |
| 176 | Myanmar | 0.2% | 2019 | down 47.3% | volatile |
| 177 | Iraq | 0.1% | 2025 | down 88.1% | volatile |
| 178 | North Macedonia | 0.1% | 2025 | down 19.6% | volatile |
| 179 | Lesotho | 0.1% | 2025 | up 62.8% | volatile |
| 180 | Laos | 0.1% | 2025 | down 91.3% | volatile |
| 181 | Tonga | 0.1% | 2017 | down 97.3% | volatile |
| 182 | Papua New Guinea | 0.1% | 2024 | down 99.2% | volatile |
| 183 | Gambia | 0.1% | 2025 | down 73.7% | volatile |
| 184 | Ethiopia | 0.1% | 2024 | up 11,873.2% | volatile |
| 185 | Israel | 0.1% | 2025 | down 41.2% | volatile |
| 186 | Maldives | 0.1% | 2010 | down 76.0% | volatile |
| 187 | Sint Maarten (Dutch part) | 0.1% | 2023 | down 88.6% | volatile |
| 188 | Mauritania | 0.0% | 2023 | down 99.1% | volatile |
| 189 | Palestine | 0.0% | 2022 | down 6.3% | volatile |
| 190 | Angola | 0.0% | 2025 | — | volatile |
Regions and income groups
Aggregates are excluded from the country ranking above so that a region can never outrank a country.
- Africa Western and Central 23.9%
- North America 18.2%
- IDA blend 15.4%
- Post-demographic dividend 12.9%
- High income 11.7%
- OECD members 11.2%
- Sub-Saharan Africa (excluding high income) 11.2%
- Sub-Saharan Africa 11.2%
- Sub-Saharan Africa (IDA & IBRD countries) 11.2%
- Caribbean Small States 11.0%
- Europe & Central Asia 10.0%
- Euro area 9.7%
- IDA total 9.3%
- World 9.1%
- Middle East, North Africa, Afghanistan & Pakistan (excluding high income) 8.7%
- European Union 8.7%
- Pre-demographic dividend 8.4%
- Latin America & Caribbean 6.8%
- Latin America & the Caribbean (IDA & IBRD countries) 6.8%
- Latin America & Caribbean (excluding high income) 6.8%
- Small states 6.5%
- Africa Eastern and Southern 6.3%
- East Asia & Pacific 6.3%
- Heavily indebted poor countries (HIPC) 6.1%
- Low income 5.5%
- Early-demographic dividend 5.4%
- IDA only 4.9%
- Lower middle income 4.7%
- Other small states 4.5%
- Europe & Central Asia (IDA & IBRD countries) 4.0%
- Europe & Central Asia (excluding high income) 3.7%
- IDA & IBRD total 3.4%
- Low & middle income 3.2%
- Middle income 3.2%
- IBRD only 3.2%
- Central Europe and the Baltics 3.1%
- Upper middle income 3.0%
- Middle East, North Africa, Afghanistan & Pakistan (IDA & IBRD) 2.9%
- Late-demographic dividend 2.7%
- South Asia 2.7%
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.