Insurance and financial services (% of commercial service exports) in Namibia
Namibia: Insurance and financial services (% of commercial service exports) was 4.1% in 2024. ◆ Volatile
Insurance and financial services in Namibia, 1990–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service exports.
Analysis
Namibia recorded 4.1% for insurance and financial services in 2024.
That represents a change of down 23.7% on the previous year and up 33.1% over ten years.
Over the whole period, insurance and financial services in Namibia peaked at 7.1% in 1991 and was at its lowest, -0.0%, in 2003.
That places Namibia 79th out of 190 countries 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 (% of commercial service exports) in Namibia, year by year
| Year | % of commercial service exports | Change |
|---|---|---|
| 1990 | 5.9% | — |
| 1991 | 7.1% | +21.2% |
| 1992 | 3.8% | -46.7% |
| 1993 | 2.1% | -43.8% |
| 1994 | 1.7% | -18.3% |
| 1995 | 1.5% | -14.6% |
| 1996 | 2.8% | +89.2% |
| 1997 | 1.0% | -62.9% |
| 1998 | 1.4% | +37.8% |
| 1999 | 2.4% | +69.8% |
| 2000 | 0.5% | -81.3% |
| 2001 | 0.3% | -31.5% |
| 2002 | 0.6% | +83.0% |
| 2003 | -0.0% | -100.5% |
| 2004 | 0.0% | -220.1% |
| 2005 | 0.0% | +945.3% |
| 2006 | 0.3% | +763.5% |
| 2007 | 0.9% | +163.0% |
| 2008 | 3.5% | +295.8% |
| 2009 | 1.5% | -55.9% |
| 2010 | 2.6% | +67.4% |
| 2011 | 1.0% | -59.4% |
| 2012 | 2.2% | +106.9% |
| 2013 | 4.4% | +104.8% |
| 2014 | 3.0% | -31.2% |
| 2015 | 3.1% | +1.8% |
| 2016 | 5.1% | +66.0% |
| 2017 | 3.9% | -23.9% |
| 2018 | 4.0% | +2.7% |
| 2019 | 4.2% | +5.1% |
| 2020 | 2.7% | -35.1% |
| 2021 | 2.0% | -28.1% |
| 2022 | 2.5% | +28.8% |
| 2023 | 5.3% | +109.2% |
| 2024 | 4.1% | -23.7% |
Namibia compared with similar countries
- Namibia's 4.1% is above the median for lower middle income countries, which is 2.4%, 1.7× the median. (46 countries reporting)
- Namibia's 4.1% is above the median for Sub-Saharan Africa, which is 3.9%, 1.0× the median. (45 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services (% of commercial service exports) in Namibia 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 |
|---|---|---|---|
| 2005 | +945.3% | 0.0% | 0.0% |
| 2006 | +763.5% | 0.0% | 0.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 3.0% | 1.0% | 7.1% | 10 |
| 2000s | 0.8% | -0.0% | 3.5% | 10 |
| 2010s | 3.4% | 1.0% | 5.1% | 10 |
| 2020s | 3.3% | 2.0% | 5.3% | 5 |
Countries ranked near Namibia
More private sector data for Namibia
- Merchandise trade 102.4% (2025)
- Food imports 13.2% (2024)
- Manufactures imports 60.4% (2024)
- Merchandise imports 8.43 billion current US$ (2025)
- Commercial service imports 2.44 billion current US$ (2024)
- Food exports 28.0% (2024)
- Manufactures exports 18.4% (2024)
- Merchandise exports 7.02 billion current US$ (2025)
- Commercial service exports 1.25 billion current US$ (2024)
- Merchandise exports (current US$), per capita 2,271 current US$ per person (2025)
Frequently asked questions
- What is insurance and financial services in Namibia?
- Insurance and financial services in Namibia was 4.1% 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 Namibia?
- The highest recorded value was 7.1% in 1991.
- What is the lowest insurance and financial services recorded in Namibia?
- The lowest recorded value was -0.0% in 2003.
- How does Namibia rank for insurance and financial services?
- Namibia ranks 79th out of 190 countries with data for 2024.
- Is insurance and financial services rising or falling in Namibia?
- Over the last ten years it is up 33.1%. The long-run trend across the full record is volatile.
- Where does this Namibia 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.