Insurance and financial services in Rwanda
Rwanda: Insurance and financial services was 4.1% in 2024. ▼ Falling
Insurance and financial services in Rwanda, 2010–2024
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 Rwanda is 4.1%, measured in 2024.
That represents a change of up 26.5% on the previous year and up 6.5% over ten years.
Over the whole period, insurance and financial services in Rwanda peaked at 7.0% in 2010 and was at its lowest, 1.8%, in 2016.
That places Rwanda 74th out of 190 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently falling across the 15 years of available data.
Insurance and financial services in Rwanda, year by year
| Year | % of commercial service exports | Change |
|---|---|---|
| 2010 | 7.0% | — |
| 2011 | 4.5% | -36.0% |
| 2012 | 3.5% | -21.9% |
| 2013 | 4.3% | +21.5% |
| 2014 | 3.8% | -9.9% |
| 2015 | 2.2% | -42.8% |
| 2016 | 1.8% | -17.1% |
| 2017 | 2.1% | +14.8% |
| 2018 | 2.1% | -0.6% |
| 2019 | 2.0% | -4.8% |
| 2020 | 4.7% | +137.6% |
| 2021 | 4.6% | -2.2% |
| 2022 | 2.5% | -45.6% |
| 2023 | 3.2% | +29.2% |
| 2024 | 4.1% | +26.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 3.3% | 1.8% | 7.0% | 10 |
| 2020s | 3.8% | 2.5% | 4.7% | 5 |
Countries ranked near Rwanda
More private sector data for Rwanda
- Merchandise trade 45.9% (2025)
- Food imports 22.4% (2022)
- Manufactures imports 50.0% (2022)
- Merchandise imports 5.07 billion current US$ (2025)
- Food exports 27.2% (2022)
- Manufactures exports 10.4% (2022)
- Merchandise exports 2.45 billion current US$ (2025)
- Merchandise exports (current US$), per capita 168.16 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.1496 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate -23.46 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Rwanda?
- Insurance and financial services in Rwanda 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 Rwanda?
- The highest recorded value was 7.0% in 2010.
- What is the lowest insurance and financial services recorded in Rwanda?
- The lowest recorded value was 1.8% in 2016.
- How does Rwanda rank for insurance and financial services?
- Rwanda ranks 74th out of 190 countries with data for 2024.
- Is insurance and financial services rising or falling in Rwanda?
- Over the last ten years it is up 6.5%. The long-run trend across the full record is falling.
- Where does this Rwanda 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.