Insurance and financial services in Liberia
Liberia: Insurance and financial services was 71.7% in 2024. ▼ Falling
Insurance and financial services in Liberia, 2010–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service exports.
Analysis
In 2024, insurance and financial services in Liberia stood at 71.7%.
The figure is up 83.0% on the previous year and down 28.3% over ten years.
Over the whole period, insurance and financial services in Liberia peaked at 100.0% in 2011 and was at its lowest, 31.0%, in 2022.
Liberia ranks 2nd of 190 countries on this measure, in the top 10%.
The long-run direction has been consistently falling across the 15 years of available data.
Insurance and financial services in Liberia, year by year
| Year | % of commercial service exports | Change |
|---|---|---|
| 2010 | 100.0% | — |
| 2011 | 100.0% | +0.0% |
| 2012 | 100.0% | +0.0% |
| 2013 | 100.0% | +0.0% |
| 2014 | 100.0% | +0.0% |
| 2015 | 100.0% | +0.0% |
| 2016 | 100.0% | +0.0% |
| 2017 | 100.0% | +0.0% |
| 2018 | 100.0% | +0.0% |
| 2019 | 82.1% | -17.9% |
| 2020 | 41.8% | -49.2% |
| 2021 | 54.4% | +30.3% |
| 2022 | 31.0% | -43.1% |
| 2023 | 39.2% | +26.6% |
| 2024 | 71.7% | +83.0% |
Liberia compared with similar countries
- Liberia's 71.7% is above the median for low income countries, which is 2.9%, 25.1× the median. (21 countries reporting)
- Liberia's 71.7% is above the median for Sub-Saharan Africa, which is 3.3%, 21.6× the median. (45 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 98.2% | 82.1% | 100.0% | 10 |
| 2020s | 47.6% | 31.0% | 71.7% | 5 |
Countries ranked near Liberia
- 1 Libya 96.1% compare
- 3 Luxembourg 60.1% compare
- 4 Cayman Islands 55.2% compare
- 5 Sierra Leone 32.7% compare
More private sector data for Liberia
- Merchandise trade 87.0% (2025)
- Food imports 23.1% (2023)
- Manufactures imports 42.8% (2023)
- Merchandise imports 2.49 billion current US$ (2025)
- Food exports 24.5% (2023)
- Manufactures exports 9.9% (2023)
- Merchandise exports 2.07 billion current US$ (2025)
- Merchandise exports (current US$), per capita 360.83 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.3942 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 57.86 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Liberia?
- Insurance and financial services in Liberia was 71.7% 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 Liberia?
- The highest recorded value was 100.0% in 2011.
- What is the lowest insurance and financial services recorded in Liberia?
- The lowest recorded value was 31.0% in 2022.
- How does Liberia rank for insurance and financial services?
- Liberia ranks 2nd out of 190 countries with data for 2024.
- Is insurance and financial services rising or falling in Liberia?
- Over the last ten years it is down 28.3%. The long-run trend across the full record is falling.
- Where does this Liberia 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 — 15 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.