Insurance and financial services (% of commercial service exports) in Low income
Low income: Insurance and financial services (% of commercial service exports) was 5.5% in 2024. ▼ Falling
Insurance and financial services in Low income, 2005–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service exports.
Analysis
Low income recorded 5.5% for insurance and financial services in 2024.
Compared with earlier readings it is down 12.2% on the previous year and down 40.4% over ten years.
Over the whole period, insurance and financial services in Low income peaked at 9.4% in 2016 and was at its lowest, 3.7%, in 2019.
Low income ranks 25th of 45 groups on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 20 years of available data.
Insurance and financial services (% of commercial service exports) in Low income, year by year
| Year | % of commercial service exports | Change |
|---|---|---|
| 2005 | 6.5% | — |
| 2006 | 6.1% | -7.3% |
| 2007 | 6.7% | +10.5% |
| 2008 | 6.5% | -3.5% |
| 2009 | 5.3% | -17.6% |
| 2010 | 6.3% | +17.5% |
| 2011 | 6.7% | +7.5% |
| 2012 | 8.1% | +20.3% |
| 2013 | 5.5% | -32.2% |
| 2014 | 9.2% | +67.7% |
| 2015 | 8.6% | -6.6% |
| 2016 | 9.4% | +9.3% |
| 2017 | 6.3% | -32.5% |
| 2018 | 4.6% | -28.0% |
| 2019 | 3.7% | -18.9% |
| 2020 | 5.2% | +41.5% |
| 2021 | 5.7% | +8.1% |
| 2022 | 4.2% | -26.8% |
| 2023 | 6.3% | +50.6% |
| 2024 | 5.5% | -12.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 6.2% | 5.3% | 6.7% | 5 |
| 2010s | 6.8% | 3.7% | 9.4% | 10 |
| 2020s | 5.4% | 4.2% | 6.3% | 5 |
Countries ranked near Low income
More private sector data for Low income
- Merchandise trade 40.8% (2025)
- Food imports 17.6% (2019)
- Manufactures imports 59.0% (2019)
- Merchandise imports 152.49 billion current US$ (2025)
- Commercial service imports 37.86 billion current US$ (2024)
- Merchandise exports 106.71 billion current US$ (2025)
- Commercial service exports 22.58 billion current US$ (2024)
- Merchandise exports (current US$), per capita 139.04 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.166 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 15.25 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Low income?
- Insurance and financial services in Low income was 5.5% 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 Low income?
- The highest recorded value was 9.4% in 2016.
- What is the lowest insurance and financial services recorded in Low income?
- The lowest recorded value was 3.7% in 2019.
- How does Low income rank for insurance and financial services?
- Low income ranks 25th out of 45 groups with data for 2024.
- Is insurance and financial services rising or falling in Low income?
- Over the last ten years it is down 40.4%. The long-run trend across the full record is falling.
- Where does this Low income 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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CSV · JSON — 20 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.