Insurance and financial services in Guyana
Guyana: Insurance and financial services was 10.5% in 2023. ◆ Volatile
Insurance and financial services in Guyana, 1977–2023
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 Guyana is 10.5%, measured in 2023.
Compared with earlier readings it is down 76.0% on the previous year and up 55.6% over ten years.
Over the whole period, insurance and financial services in Guyana peaked at 43.6% in 2022 and was at its lowest, 2.0%, in 1997.
Guyana ranks 33rd of 190 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in Guyana, year by year
| Year | % of commercial service exports | Change |
|---|---|---|
| 1977 | 13.1% | — |
| 1978 | 13.4% | +2.2% |
| 1979 | 13.9% | +4.1% |
| 1980 | 13.8% | -1.4% |
| 1981 | 11.5% | -16.7% |
| 1982 | 11.8% | +2.8% |
| 1983 | 12.9% | +9.5% |
| 1984 | 11.1% | -13.8% |
| 1985 | 4.6% | -58.4% |
| 1996 | 3.2% | -30.4% |
| 1997 | 2.0% | -36.9% |
| 1998 | 2.9% | +42.7% |
| 1999 | 5.2% | +78.8% |
| 2000 | 9.0% | +73.7% |
| 2001 | 8.8% | -1.6% |
| 2002 | 6.8% | -23.2% |
| 2003 | 9.1% | +33.4% |
| 2004 | 4.2% | -54.0% |
| 2005 | 4.8% | +14.3% |
| 2006 | 5.0% | +5.2% |
| 2007 | 4.5% | -10.3% |
| 2008 | 12.0% | +167.2% |
| 2009 | 11.1% | -7.7% |
| 2010 | 10.9% | -1.0% |
| 2011 | 10.7% | -2.7% |
| 2012 | 11.8% | +11.1% |
| 2013 | 6.7% | -43.1% |
| 2014 | 13.8% | +105.0% |
| 2015 | 15.0% | +8.7% |
| 2016 | 8.0% | -46.6% |
| 2017 | 10.7% | +34.0% |
| 2018 | 14.7% | +37.0% |
| 2019 | 9.8% | -33.6% |
| 2020 | 16.0% | +64.0% |
| 2021 | 41.4% | +158.4% |
| 2022 | 43.6% | +5.2% |
| 2023 | 10.5% | -76.0% |
Guyana compared with similar countries
- Guyana's 10.5% is above the median for high income countries, which is 5.3%, 2.0× the median. (69 countries reporting)
- Guyana's 10.5% is above the median for Latin America & Caribbean, which is 2.7%, 3.8× the median. (35 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 13.5% | 13.1% | 13.9% | 3 |
| 1980s | 10.9% | 4.6% | 13.8% | 6 |
| 1990s | 3.3% | 2.0% | 5.2% | 4 |
| 2000s | 7.5% | 4.2% | 12.0% | 10 |
| 2010s | 11.2% | 6.7% | 15.0% | 10 |
| 2020s | 27.9% | 10.5% | 43.6% | 4 |
Countries ranked near Guyana
More private sector data for Guyana
- Merchandise trade 106.7% (2025)
- Food imports 6.5% (2025)
- Manufactures imports 83.1% (2025)
- Merchandise imports 10.22 billion current US$ (2025)
- Food exports 1.5% (2025)
- Manufactures exports 0.5% (2025)
- Merchandise exports 18.69 billion current US$ (2025)
- Merchandise exports (current US$), per capita 22,360 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.6898 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate -5.52 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Guyana?
- Insurance and financial services in Guyana was 10.5% in 2023, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Guyana?
- The highest recorded value was 43.6% in 2022.
- What is the lowest insurance and financial services recorded in Guyana?
- The lowest recorded value was 2.0% in 1997.
- How does Guyana rank for insurance and financial services?
- Guyana ranks 33rd out of 190 countries with data for 2023.
- Is insurance and financial services rising or falling in Guyana?
- Over the last ten years it is up 55.6%. The long-run trend across the full record is volatile.
- Where does this Guyana 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.