Insurance and financial services in Pacific island small states
Pacific island small states: Insurance and financial services was 0.8% in 2024. ◆ Volatile
Insurance and financial services in Pacific island small states, 1993–2024
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 Pacific island small states stood at 0.8%.
The figure is up 2.3% on the previous year and up 32.7% over ten years.
Over the whole period, insurance and financial services in Pacific island small states peaked at 15.0% in 2000 and was at its lowest, 0.4%, in 2018.
That places Pacific island small states 45th out of 45 groups with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in Pacific island small states, year by year
| Year | % of commercial service exports | Change |
|---|---|---|
| 1993 | 2.6% | — |
| 1994 | 2.3% | -10.8% |
| 1995 | 0.9% | -59.3% |
| 1996 | 0.9% | -6.3% |
| 1997 | 1.3% | +49.8% |
| 1998 | 8.7% | +557.6% |
| 1999 | 11.8% | +34.7% |
| 2000 | 15.0% | +27.3% |
| 2001 | 11.9% | -20.6% |
| 2002 | 5.8% | -51.1% |
| 2003 | 1.7% | -70.3% |
| 2004 | 2.0% | +13.4% |
| 2005 | 1.0% | -48.6% |
| 2006 | 1.7% | +71.8% |
| 2007 | 1.3% | -23.3% |
| 2008 | 2.0% | +54.2% |
| 2009 | 3.3% | +62.1% |
| 2010 | 3.1% | -6.5% |
| 2011 | 3.0% | -2.5% |
| 2012 | 2.6% | -12.8% |
| 2013 | 0.8% | -70.6% |
| 2014 | 0.6% | -17.7% |
| 2015 | 1.0% | +52.1% |
| 2016 | 0.9% | -9.9% |
| 2017 | 1.1% | +23.2% |
| 2018 | 0.4% | -62.5% |
| 2019 | 0.8% | +108.2% |
| 2020 | 2.7% | +216.0% |
| 2021 | 2.0% | -26.4% |
| 2022 | 1.8% | -5.6% |
| 2023 | 0.8% | -55.2% |
| 2024 | 0.8% | +2.3% |
Biggest year-on-year movements
Years where Insurance and financial services in Pacific island small states 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 |
|---|---|---|---|
| 1998 | +557.6% | 1.3% | 8.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 4.1% | 0.9% | 11.8% | 7 |
| 2000s | 4.6% | 1.0% | 15.0% | 10 |
| 2010s | 1.4% | 0.4% | 3.1% | 10 |
| 2020s | 1.6% | 0.8% | 2.7% | 5 |
Countries ranked near Pacific island small states
More private sector data for Pacific island small states
- Merchandise trade 66.2% (2025)
- Food imports 23.7% (2021)
- Manufactures imports 58.1% (2021)
- Merchandise imports 6.45 billion current US$ (2025)
- Food exports 47.5% (2018)
- Manufactures exports 16.2% (2018)
- Merchandise exports 2.15 billion current US$ (2025)
- Merchandise exports (current US$), per capita 781.41 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.1656 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 3.56 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Pacific island small states?
- Insurance and financial services in Pacific island small states was 0.8% 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 Pacific island small states?
- The highest recorded value was 15.0% in 2000.
- What is the lowest insurance and financial services recorded in Pacific island small states?
- The lowest recorded value was 0.4% in 2018.
- How does Pacific island small states rank for insurance and financial services?
- Pacific island small states ranks 45th out of 45 groups with data for 2024.
- Is insurance and financial services rising or falling in Pacific island small states?
- Over the last ten years it is up 32.7%. The long-run trend across the full record is volatile.
- Where does this Pacific island small states 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 — 32 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.