Insurance and financial services in IDA total
IDA total: Insurance and financial services was 10.0% in 2024. ◆ Volatile
Insurance and financial services in IDA total, 1983–2024
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 IDA total is 10.0%, measured in 2024. That is the highest value across all 41 years on record.
The figure is up 7.6% on the previous year and up 134.2% over ten years.
Over the whole period, insurance and financial services in IDA total peaked at 10.0% in 2024 and was at its lowest, 1.2%, in 1995.
That places IDA total 13th out of 45 groups with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in IDA total, year by year
| Year | % of commercial service exports | Change |
|---|---|---|
| 1983 | 2.7% | — |
| 1984 | 2.8% | +2.5% |
| 1985 | 3.2% | +15.6% |
| 1986 | 2.4% | -27.0% |
| 1987 | 2.3% | -2.5% |
| 1988 | 2.5% | +8.3% |
| 1989 | 1.8% | -27.9% |
| 1990 | 1.8% | +1.8% |
| 1991 | 2.0% | +12.0% |
| 1992 | 1.6% | -23.0% |
| 1994 | 1.3% | -19.7% |
| 1995 | 1.2% | -2.4% |
| 1996 | 2.4% | +94.9% |
| 1997 | 2.2% | -6.7% |
| 1998 | 2.4% | +7.8% |
| 1999 | 2.8% | +16.7% |
| 2000 | 2.5% | -12.6% |
| 2001 | 3.9% | +60.0% |
| 2002 | 2.2% | -43.1% |
| 2003 | 3.4% | +51.0% |
| 2004 | 3.3% | -1.6% |
| 2005 | 4.5% | +35.9% |
| 2006 | 3.9% | -13.7% |
| 2007 | 3.8% | -3.2% |
| 2008 | 3.7% | -1.1% |
| 2009 | 3.7% | -0.5% |
| 2010 | 3.2% | -14.8% |
| 2011 | 3.6% | +12.7% |
| 2012 | 4.6% | +28.1% |
| 2013 | 3.4% | -25.0% |
| 2014 | 4.3% | +24.5% |
| 2015 | 5.5% | +27.8% |
| 2016 | 5.4% | -1.6% |
| 2017 | 5.3% | -1.1% |
| 2018 | 6.7% | +26.9% |
| 2019 | 6.7% | -0.1% |
| 2020 | 9.0% | +33.0% |
| 2021 | 8.4% | -5.8% |
| 2022 | 7.8% | -7.2% |
| 2023 | 9.3% | +18.7% |
| 2024 | 10.0% | +7.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 2.5% | 1.8% | 3.2% | 7 |
| 1990s | 2.0% | 1.2% | 2.8% | 9 |
| 2000s | 3.5% | 2.2% | 4.5% | 10 |
| 2010s | 4.9% | 3.2% | 6.7% | 10 |
| 2020s | 8.9% | 7.8% | 10.0% | 5 |
Countries ranked near IDA total
- 10 Guinea-Bissau 21.6% compare
- 11 Switzerland 21.4% compare
- 12 Haiti 21.1% compare
- 13 United States of America 20.2% compare
- 14 Bermuda 20.0% compare
- 15 Cyprus 19.7% compare
- 16 Central African Republic 19.6% compare
More private sector data for IDA total
- Merchandise trade 40.1% (2025)
- Food imports 14.7% (2023)
- Manufactures imports 56.9% (2023)
- Merchandise imports 720.00 billion current US$ (2025)
- Food exports 20.4% (2023)
- Manufactures exports 25.7% (2023)
- Merchandise exports 565.68 billion current US$ (2025)
- Merchandise exports (current US$), per capita 284.71 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.1771 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 13.38 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in IDA total?
- Insurance and financial services in IDA total was 10.0% 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 IDA total?
- The highest recorded value was 10.0% in 2024.
- What is the lowest insurance and financial services recorded in IDA total?
- The lowest recorded value was 1.2% in 1995.
- How does IDA total rank for insurance and financial services?
- IDA total ranks 13th out of 45 groups with data for 2024.
- Is insurance and financial services rising or falling in IDA total?
- Over the last ten years it is up 134.2%. The long-run trend across the full record is volatile.
- Where does this IDA total 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.