Insurance and financial services in Latin America & Caribbean
Latin America & Caribbean: Insurance and financial services was 6.7% in 2025. ▲ Rising
Insurance and financial services in Latin America & Caribbean, 1979–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service exports.
Analysis
In 2025, insurance and financial services in Latin America & Caribbean stood at 6.7%.
Compared with earlier readings it is down 3.3% on the previous year and up 0.5% over ten years.
Over the whole period, insurance and financial services in Latin America & Caribbean peaked at 9.0% in 2000 and was at its lowest, 3.7%, in 1994.
Latin America & Caribbean ranks 18th of 45 groups on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 47 years of available data.
Insurance and financial services in Latin America & Caribbean, year by year
| Year | % of commercial service exports | Change |
|---|---|---|
| 1979 | 6.0% | — |
| 1980 | 7.7% | +29.0% |
| 1981 | 7.8% | +1.1% |
| 1982 | 7.3% | -6.0% |
| 1983 | 5.8% | -20.5% |
| 1984 | 5.0% | -14.4% |
| 1985 | 7.0% | +41.4% |
| 1986 | 5.3% | -25.1% |
| 1987 | 4.9% | -7.5% |
| 1988 | 7.7% | +57.9% |
| 1989 | 4.5% | -41.6% |
| 1990 | 4.1% | -9.6% |
| 1991 | 3.9% | -5.0% |
| 1992 | 4.4% | +13.9% |
| 1993 | 5.7% | +30.5% |
| 1994 | 3.7% | -36.1% |
| 1995 | 7.1% | +92.9% |
| 1996 | 5.1% | -27.5% |
| 1997 | 4.8% | -5.8% |
| 1998 | 7.4% | +52.8% |
| 1999 | 7.2% | -2.3% |
| 2000 | 9.0% | +24.9% |
| 2001 | 7.4% | -18.2% |
| 2002 | 7.1% | -3.2% |
| 2003 | 6.2% | -13.8% |
| 2004 | 4.9% | -20.0% |
| 2005 | 6.1% | +24.4% |
| 2006 | 6.0% | -2.4% |
| 2007 | 7.9% | +31.3% |
| 2008 | 7.5% | -4.6% |
| 2009 | 7.2% | -3.6% |
| 2010 | 7.2% | +0.3% |
| 2011 | 7.9% | +9.5% |
| 2012 | 7.0% | -11.8% |
| 2013 | 7.9% | +12.7% |
| 2014 | 7.2% | -8.6% |
| 2015 | 6.7% | -7.5% |
| 2016 | 5.6% | -15.9% |
| 2017 | 6.7% | +20.4% |
| 2018 | 6.1% | -10.1% |
| 2019 | 6.1% | +1.3% |
| 2020 | 8.9% | +44.8% |
| 2021 | 7.8% | -12.5% |
| 2022 | 6.6% | -15.8% |
| 2023 | 6.5% | -0.4% |
| 2024 | 6.9% | +5.9% |
| 2025 | 6.7% | -3.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 6.0% | 6.0% | 6.0% | 1 |
| 1980s | 6.3% | 4.5% | 7.8% | 10 |
| 1990s | 5.3% | 3.7% | 7.4% | 10 |
| 2000s | 6.9% | 4.9% | 9.0% | 10 |
| 2010s | 6.8% | 5.6% | 7.9% | 10 |
| 2020s | 7.2% | 6.5% | 8.9% | 6 |
Countries ranked near Latin America & Caribbean
More private sector data for Latin America & Caribbean
- Merchandise trade 44.2% (2025)
- Food imports 9.1% (2024)
- Manufactures imports 73.2% (2024)
- Merchandise imports 1.66 trillion current US$ (2025)
- Food exports 24.7% (2024)
- Manufactures exports 46.5% (2024)
- Merchandise exports 1.67 trillion current US$ (2025)
- Merchandise exports (current US$), per capita 2,503 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.2256 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 6.02 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Latin America & Caribbean?
- Insurance and financial services in Latin America & Caribbean was 6.7% 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 Latin America & Caribbean?
- The highest recorded value was 9.0% in 2000.
- What is the lowest insurance and financial services recorded in Latin America & Caribbean?
- The lowest recorded value was 3.7% in 1994.
- How does Latin America & Caribbean rank for insurance and financial services?
- Latin America & Caribbean ranks 18th out of 45 groups with data for 2025.
- Is insurance and financial services rising or falling in Latin America & Caribbean?
- Over the last ten years it is up 0.5%. The long-run trend across the full record is rising.
- Where does this Latin America & Caribbean 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 — 47 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.