Insurance and financial services (% of commercial service exports) in Venezuela
Venezuela: Insurance and financial services (% of commercial service exports) was 2.4% in 2025. ◆ Volatile
Insurance and financial services in Venezuela, 1970–2025
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 Venezuela is 2.4%, measured in 2025.
The figure is down 13.7% on the previous year and up 265.8% over ten years.
Over the whole period, insurance and financial services in Venezuela peaked at 17.6% in 1982 and was at its lowest, 0.1%, in 2005.
Venezuela ranks 104th of 190 countries on this measure, 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 Venezuela, year by year
| Year | % of commercial service exports | Change |
|---|---|---|
| 1970 | 15.5% | — |
| 1971 | 14.9% | -3.4% |
| 1972 | 13.8% | -7.4% |
| 1973 | 9.5% | -31.1% |
| 1974 | 7.5% | -21.3% |
| 1975 | 6.4% | -14.1% |
| 1976 | 15.0% | +132.9% |
| 1977 | 11.2% | -25.4% |
| 1978 | 8.1% | -27.4% |
| 1979 | 13.8% | +69.4% |
| 1980 | 15.0% | +9.0% |
| 1981 | 11.0% | -26.7% |
| 1982 | 17.6% | +59.7% |
| 1983 | 6.3% | -64.3% |
| 1984 | 8.4% | +33.8% |
| 1985 | 3.5% | -58.4% |
| 1986 | 3.2% | -9.0% |
| 1987 | 8.9% | +179.4% |
| 1988 | 4.6% | -48.1% |
| 1989 | 1.6% | -66.2% |
| 1990 | 0.2% | -88.5% |
| 1991 | 0.1% | -51.2% |
| 1992 | 0.2% | +88.7% |
| 1993 | 0.5% | +194.5% |
| 1994 | 0.3% | -29.3% |
| 1995 | 0.1% | -62.0% |
| 1996 | 0.1% | +5.5% |
| 1997 | 0.6% | +329.2% |
| 1998 | 0.4% | -33.9% |
| 1999 | 0.2% | -57.4% |
| 2000 | 0.3% | +71.2% |
| 2001 | 0.2% | -43.2% |
| 2002 | 0.1% | -32.1% |
| 2003 | 0.3% | +130.7% |
| 2004 | 0.2% | -22.7% |
| 2005 | 0.1% | -58.9% |
| 2006 | 0.3% | +246.6% |
| 2007 | 1.4% | +416.7% |
| 2008 | 1.4% | -3.5% |
| 2009 | 1.6% | +19.0% |
| 2010 | 0.8% | -50.0% |
| 2011 | 1.6% | +89.4% |
| 2012 | 2.9% | +88.0% |
| 2013 | 3.2% | +8.9% |
| 2014 | 1.0% | -67.2% |
| 2015 | 0.7% | -37.2% |
| 2016 | 2.3% | +248.0% |
| 2017 | 0.8% | -65.8% |
| 2018 | 2.1% | +164.5% |
| 2019 | 1.4% | -34.1% |
| 2020 | 0.7% | -46.0% |
| 2021 | 2.5% | +246.4% |
| 2022 | 3.1% | +21.1% |
| 2023 | 2.7% | -11.7% |
| 2024 | 2.8% | +2.0% |
| 2025 | 2.4% | -13.7% |
Venezuela compared with similar countries
- Venezuela's 2.4% is below the median for lower middle income countries, which is 2.4%, 99% of the median. (46 countries reporting)
- Venezuela's 2.4% is below the median for Latin America & Caribbean, which is 2.8%, 86% of the median. (35 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services (% of commercial service exports) in Venezuela 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 |
|---|---|---|---|
| 2007 | +416.7% | 0.3% | 1.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 11.6% | 6.4% | 15.5% | 10 |
| 1980s | 8.0% | 1.6% | 17.6% | 10 |
| 1990s | 0.3% | 0.1% | 0.6% | 10 |
| 2000s | 0.6% | 0.1% | 1.6% | 10 |
| 2010s | 1.7% | 0.7% | 3.2% | 10 |
| 2020s | 2.4% | 0.7% | 3.1% | 6 |
Countries ranked near Venezuela
- 101 El Salvador 2.7% compare
- 102 Ukraine 2.5% compare
- 103 Uzbekistan 2.4% compare
- 105 San Marino 2.3% compare
- 106 Poland 2.3% compare
- 107 Hungary 2.3% compare
More private sector data for Venezuela
- Merchandise trade 22.5% (2025)
- Food imports 18.4% (2013)
- Manufactures imports 70.7% (2013)
- Merchandise imports 13.80 billion current US$ (2025)
- Commercial service imports 5.95 billion current US$ (2025)
- Food exports 0.0% (2013)
- Manufactures exports 1.8% (2013)
- Merchandise exports 8.60 billion current US$ (2025)
- Commercial service exports 1.12 billion current US$ (2025)
- Merchandise exports (current US$), per capita 301.58 current US$ per person (2025)
Frequently asked questions
- What is insurance and financial services in Venezuela?
- Insurance and financial services in Venezuela was 2.4% in 2025, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Venezuela?
- The highest recorded value was 17.6% in 1982.
- What is the lowest insurance and financial services recorded in Venezuela?
- The lowest recorded value was 0.1% in 2005.
- How does Venezuela rank for insurance and financial services?
- Venezuela ranks 104th out of 190 countries with data for 2025.
- Is insurance and financial services rising or falling in Venezuela?
- Over the last ten years it is up 265.8%. The long-run trend across the full record is volatile.
- Where does this Venezuela 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.