Insurance and financial services in Gambia
Gambia: Insurance and financial services was 0.1% in 2024. ◆ Volatile
Insurance and financial services in Gambia, 1978–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service exports.
Analysis
The most recent figure for insurance and financial services in Gambia is 0.1%, measured in 2024.
Compared with earlier readings it is down 9.8% on the previous year and down 94.3% over ten years.
Over the whole period, insurance and financial services in Gambia peaked at 1.2% in 2014 and was at its lowest, 0.1%, in 1992.
Gambia ranks 183rd of 190 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in Gambia, year by year
| Year | % of commercial service exports | Change |
|---|---|---|
| 1978 | 0.8% | — |
| 1979 | 0.3% | -63.3% |
| 1982 | 0.7% | +145.5% |
| 1983 | 0.8% | +7.0% |
| 1984 | 0.8% | +4.2% |
| 1985 | 0.6% | -26.5% |
| 1986 | 0.8% | +41.6% |
| 1987 | 0.4% | -51.8% |
| 1988 | 0.2% | -46.3% |
| 1989 | 0.2% | -19.0% |
| 1990 | 0.1% | -60.0% |
| 1991 | 0.1% | -10.5% |
| 1992 | 0.1% | -8.9% |
| 1993 | 0.1% | +144.5% |
| 1994 | 0.1% | -7.6% |
| 1995 | 0.3% | +116.3% |
| 1996 | 0.1% | -55.0% |
| 1997 | 0.1% | -7.7% |
| 2003 | 0.6% | +422.9% |
| 2004 | 0.6% | +4.2% |
| 2005 | 0.5% | -27.6% |
| 2006 | 0.4% | -13.0% |
| 2007 | 0.3% | -23.4% |
| 2008 | 0.5% | +59.1% |
| 2009 | 0.1% | -84.9% |
| 2010 | 0.3% | +299.9% |
| 2011 | 0.5% | +58.5% |
| 2012 | 0.9% | +89.3% |
| 2013 | 0.7% | -20.5% |
| 2014 | 1.2% | +69.6% |
| 2015 | 0.3% | -77.5% |
| 2016 | 0.2% | -9.1% |
| 2017 | 0.2% | -34.6% |
| 2018 | 0.2% | +17.2% |
| 2019 | 0.2% | -4.4% |
| 2020 | 0.4% | +103.9% |
| 2021 | 0.3% | -25.2% |
| 2022 | 0.1% | -65.5% |
| 2023 | 0.1% | -19.3% |
| 2024 | 0.1% | -9.8% |
Gambia compared with similar countries
- Gambia's 0.1% is below the median for low income countries, which is 2.9%, 2% of the median. (21 countries reporting)
- Gambia's 0.1% is below the median for Sub-Saharan Africa, which is 3.3%, 2% of the median. (45 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Gambia 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 |
|---|---|---|---|
| 2003 | +422.9% | 0.1% | 0.6% |
| 2010 | +299.9% | 0.1% | 0.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 0.5% | 0.3% | 0.8% | 2 |
| 1980s | 0.6% | 0.2% | 0.8% | 8 |
| 1990s | 0.1% | 0.1% | 0.3% | 8 |
| 2000s | 0.4% | 0.1% | 0.6% | 7 |
| 2010s | 0.5% | 0.2% | 1.2% | 10 |
| 2020s | 0.2% | 0.1% | 0.4% | 5 |
Countries ranked near Gambia
More private sector data for Gambia
- Merchandise trade 54.3% (2025)
- Food imports 22.0% (2024)
- Manufactures imports 44.7% (2024)
- Merchandise imports 894.00 million current US$ (2025)
- Food exports 90.7% (2024)
- Manufactures exports 1.0% (2024)
- Merchandise exports 514.00 million current US$ (2025)
- Merchandise exports (current US$), per capita 182.13 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.1982 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 41.6 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Gambia?
- Insurance and financial services in Gambia was 0.1% 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 Gambia?
- The highest recorded value was 1.2% in 2014.
- What is the lowest insurance and financial services recorded in Gambia?
- The lowest recorded value was 0.1% in 1992.
- How does Gambia rank for insurance and financial services?
- Gambia ranks 183rd out of 190 countries with data for 2024.
- Is insurance and financial services rising or falling in Gambia?
- Over the last ten years it is down 94.3%. The long-run trend across the full record is volatile.
- Where does this Gambia 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.