Insurance and financial services in Middle East, North Africa, Afghanistan & Pakistan (excluding high income)
Middle East, North Africa, Afghanistan & Pakistan (excluding high income): Insurance and financial services was 8.6% in 2023. ◆ Volatile
Insurance and financial services in Middle East, North Africa, Afghanistan & Pakistan (excluding high income), 1983–2023
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 Middle East, North Africa, Afghanistan & Pakistan (excluding high income) is 8.6%, measured in 2023.
That represents a change of up 22.9% on the previous year and up 103.5% over ten years.
Over the whole period, insurance and financial services in Middle East, North Africa, Afghanistan & Pakistan (excluding high income) peaked at 17.4% in 1989 and was at its lowest, 2.7%, in 2006.
That places Middle East, North Africa, Afghanistan & Pakistan (excluding high income) 17th out of 45 groups with data for 2023, 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 Middle East, North Africa, Afghanistan & Pakistan (excluding high income), year by year
| Year | % of commercial service exports | Change |
|---|---|---|
| 1983 | 7.7% | — |
| 1984 | 9.5% | +23.6% |
| 1985 | 12.3% | +28.9% |
| 1986 | 9.0% | -26.7% |
| 1987 | 12.2% | +36.0% |
| 1988 | 15.2% | +24.4% |
| 1989 | 17.4% | +14.3% |
| 1990 | 4.0% | -76.7% |
| 1991 | 14.4% | +255.7% |
| 2005 | 5.7% | -60.5% |
| 2006 | 2.7% | -52.7% |
| 2008 | 2.9% | +8.6% |
| 2009 | 3.9% | +34.5% |
| 2010 | 4.1% | +4.2% |
| 2012 | 4.4% | +7.4% |
| 2013 | 4.2% | -3.6% |
| 2014 | 5.8% | +35.9% |
| 2015 | 9.3% | +61.3% |
| 2016 | 6.4% | -30.6% |
| 2017 | 6.0% | -7.1% |
| 2018 | 5.4% | -9.1% |
| 2019 | 5.2% | -4.8% |
| 2020 | 5.0% | -4.0% |
| 2021 | 7.2% | +44.3% |
| 2022 | 7.0% | -2.2% |
| 2023 | 8.6% | +22.9% |
Biggest year-on-year movements
Years where Insurance and financial services in Middle East, North Africa, Afghanistan & Pakistan (excluding high income) changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1991 | +255.7% | 4.0% | 14.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 11.9% | 7.7% | 17.4% | 7 |
| 1990s | 9.2% | 4.0% | 14.4% | 2 |
| 2000s | 3.8% | 2.7% | 5.7% | 4 |
| 2010s | 5.6% | 4.1% | 9.3% | 9 |
| 2020s | 6.9% | 5.0% | 8.6% | 4 |
Countries ranked near Middle East, North Africa, Afghanistan & Pakistan (excluding high income)
More private sector data for Middle East, North Africa, Afghanistan & Pakistan (excluding high income)
- Merchandise trade 49.0% (2025)
- Food imports 18.8% (2019)
- Manufactures imports 57.7% (2019)
- Merchandise imports 582.51 billion current US$ (2025)
- Food exports 10.4% (2017)
- Manufactures exports 37.1% (2017)
- Merchandise exports 468.21 billion current US$ (2025)
- Merchandise exports (current US$), per capita 621.05 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.2195 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 1.11 % change on previous year (2025)
All data for Middle East, North Africa, Afghanistan & Pakistan (excluding high income) →
Frequently asked questions
- What is insurance and financial services in Middle East, North Africa, Afghanistan & Pakistan (excluding high income)?
- Insurance and financial services in Middle East, North Africa, Afghanistan & Pakistan (excluding high income) was 8.6% 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 Middle East, North Africa, Afghanistan & Pakistan (excluding high income)?
- The highest recorded value was 17.4% in 1989.
- What is the lowest insurance and financial services recorded in Middle East, North Africa, Afghanistan & Pakistan (excluding high income)?
- The lowest recorded value was 2.7% in 2006.
- How does Middle East, North Africa, Afghanistan & Pakistan (excluding high income) rank for insurance and financial services?
- Middle East, North Africa, Afghanistan & Pakistan (excluding high income) ranks 17th out of 45 groups with data for 2023.
- Is insurance and financial services rising or falling in Middle East, North Africa, Afghanistan & Pakistan (excluding high income)?
- Over the last ten years it is up 103.5%. The long-run trend across the full record is volatile.
- Where does this Middle East, North Africa, Afghanistan & Pakistan (excluding high 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.
Download this data
CSV · JSON — 26 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.