Insurance and financial services (% of commercial service exports) in Caribbean Small States
Caribbean Small States: Insurance and financial services (% of commercial service exports) was 11.0% in 2025. ▲ Rising
Insurance and financial services in Caribbean Small States, 1995–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service exports.
Analysis
Caribbean Small States recorded 11.0% for insurance and financial services in 2025.
That represents a change of down 13.8% on the previous year and up 113.9% over ten years.
Over the whole period, insurance and financial services in Caribbean Small States peaked at 23.7% in 2021 and was at its lowest, 4.3%, in 2013.
That places Caribbean Small States 10th out of 45 groups with data for 2025, putting it in the top quarter.
The long-run direction has been consistently rising across the 31 years of available data.
Insurance and financial services (% of commercial service exports) in Caribbean Small States, year by year
| Year | % of commercial service exports | Change |
|---|---|---|
| 1995 | 8.3% | — |
| 1996 | 6.0% | -28.5% |
| 1997 | 5.9% | -0.7% |
| 1998 | 4.7% | -20.4% |
| 1999 | 4.5% | -4.2% |
| 2000 | 8.1% | +79.7% |
| 2001 | 12.2% | +50.5% |
| 2002 | 14.3% | +17.0% |
| 2003 | 14.0% | -2.0% |
| 2004 | 11.4% | -18.4% |
| 2005 | 11.5% | +1.1% |
| 2006 | 12.5% | +8.4% |
| 2007 | 11.6% | -7.5% |
| 2008 | 18.7% | +61.7% |
| 2009 | 11.3% | -39.5% |
| 2010 | 12.7% | +12.1% |
| 2011 | 5.7% | -55.5% |
| 2012 | 9.1% | +60.2% |
| 2013 | 4.3% | -52.6% |
| 2014 | 4.6% | +7.3% |
| 2015 | 5.1% | +11.5% |
| 2016 | 6.1% | +19.6% |
| 2017 | 5.8% | -5.2% |
| 2018 | 8.2% | +40.9% |
| 2019 | 10.6% | +29.3% |
| 2020 | 20.3% | +91.4% |
| 2021 | 23.7% | +16.8% |
| 2022 | 15.6% | -34.3% |
| 2023 | 11.7% | -24.7% |
| 2024 | 12.7% | +8.6% |
| 2025 | 11.0% | -13.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 5.9% | 4.5% | 8.3% | 5 |
| 2000s | 12.6% | 8.1% | 18.7% | 10 |
| 2010s | 7.2% | 4.3% | 12.7% | 10 |
| 2020s | 15.8% | 11.0% | 23.7% | 6 |
Countries ranked near Caribbean Small States
- 7 Hong Kong 28.8% compare
- 8 Bermuda 27.9% compare
- 9 Nigeria 25.3% compare
- 10 United Kingdom 25.2% compare
- 11 Guinea-Bissau 21.6% compare
- 12 Switzerland 21.3% compare
- 13 Haiti 21.1% compare
More private sector data for Caribbean Small States
- Merchandise trade 70.0% (2025)
- Food imports 19.9% (2025)
- Manufactures imports 69.0% (2025)
- Merchandise imports 31.17 billion current US$ (2025)
- Commercial service imports 20.62 billion current US$ (2025)
- Food exports 11.2% (2025)
- Manufactures exports 44.9% (2025)
- Merchandise exports 30.03 billion current US$ (2025)
- Commercial service exports 15.97 billion current US$ (2024)
- Merchandise exports (current US$), per capita 6,590 current US$ per person (2025)
Frequently asked questions
- What is insurance and financial services in Caribbean Small States?
- Insurance and financial services in Caribbean Small States was 11.0% in 2025, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Caribbean Small States?
- The highest recorded value was 23.7% in 2021.
- What is the lowest insurance and financial services recorded in Caribbean Small States?
- The lowest recorded value was 4.3% in 2013.
- How does Caribbean Small States rank for insurance and financial services?
- Caribbean Small States ranks 10th out of 45 groups with data for 2025.
- Is insurance and financial services rising or falling in Caribbean Small States?
- Over the last ten years it is up 113.9%. The long-run trend across the full record is rising.
- Where does this Caribbean Small States 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.
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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.