Insurance and financial services in Burkina Faso
Burkina Faso: Insurance and financial services was 18.2% in 2024. ▲ Rising
Insurance and financial services in Burkina Faso, 2005–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service exports.
Analysis
Burkina Faso recorded 18.2% for insurance and financial services in 2024.
That represents a change of up 5.6% on the previous year and down 3.8% over ten years.
Over the whole period, insurance and financial services in Burkina Faso peaked at 27.7% in 2012 and was at its lowest, 1.5%, in 2009.
That places Burkina Faso 18th out of 190 countries with data for 2024, putting it in the top 10%.
The long-run direction has been consistently rising across the 20 years of available data.
Insurance and financial services in Burkina Faso, year by year
| Year | % of commercial service exports | Change |
|---|---|---|
| 2005 | 18.5% | — |
| 2006 | 2.1% | -88.8% |
| 2007 | 14.8% | +614.4% |
| 2008 | 2.0% | -86.8% |
| 2009 | 1.5% | -20.7% |
| 2010 | 5.1% | +225.9% |
| 2011 | 4.2% | -17.3% |
| 2012 | 27.7% | +562.3% |
| 2013 | 20.1% | -27.3% |
| 2014 | 18.9% | -6.1% |
| 2015 | 19.5% | +3.4% |
| 2016 | 18.3% | -6.4% |
| 2017 | 18.6% | +1.8% |
| 2018 | 19.4% | +4.5% |
| 2019 | 19.4% | +0.1% |
| 2020 | 21.8% | +12.0% |
| 2021 | 21.2% | -2.8% |
| 2022 | 21.3% | +0.7% |
| 2023 | 17.2% | -19.3% |
| 2024 | 18.2% | +5.6% |
Burkina Faso compared with similar countries
- Burkina Faso's 18.2% is above the median for low income countries, which is 2.9%, 6.4× the median. (21 countries reporting)
- Burkina Faso's 18.2% is above the median for Sub-Saharan Africa, which is 3.3%, 5.5× the median. (45 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Burkina Faso changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2007 | +614.4% | 2.1% | 14.8% |
| 2012 | +562.3% | 4.2% | 27.7% |
| 2010 | +225.9% | 1.5% | 5.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 7.8% | 1.5% | 18.5% | 5 |
| 2010s | 17.1% | 4.2% | 27.7% | 10 |
| 2020s | 19.9% | 17.2% | 21.8% | 5 |
Countries ranked near Burkina Faso
More private sector data for Burkina Faso
- Merchandise trade 67.5% (2025)
- Food imports 11.2% (2024)
- Manufactures imports 46.9% (2024)
- Merchandise imports 7.57 billion current US$ (2025)
- Food exports 7.1% (2024)
- Manufactures exports 2.7% (2024)
- Merchandise exports 11.08 billion current US$ (2025)
- Merchandise exports (current US$), per capita 460.07 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.4009 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 96.38 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Burkina Faso?
- Insurance and financial services in Burkina Faso was 18.2% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Burkina Faso?
- The highest recorded value was 27.7% in 2012.
- What is the lowest insurance and financial services recorded in Burkina Faso?
- The lowest recorded value was 1.5% in 2009.
- How does Burkina Faso rank for insurance and financial services?
- Burkina Faso ranks 18th out of 190 countries with data for 2024.
- Is insurance and financial services rising or falling in Burkina Faso?
- Over the last ten years it is down 3.8%. The long-run trend across the full record is rising.
- Where does this Burkina Faso data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Insurance and financial services (% of commercial service exports). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 20 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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.