Insurance and financial services (% of commercial service imports) by country
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,...
Countries reporting
197
Highest
49.4%
Luxembourg
Lowest
0.0%
Mauritania
Median
6.3%
Years covered
66
1960–2025
Data points
9,395
What the numbers show
Insurance and financial services (% of commercial service imports) is currently reported for 197 countries. The highest value is 49.4% in Luxembourg; the lowest is 0.0% in Mauritania.
The median across all reporting countries is 6.3%, and the mean is 7.7%.
The gap between the highest and lowest reporting country is a factor of about 1,259.
Over the past decade 96 countries rose and 100 fell. The largest increase was in Tajikistan (up 2,739.9%), and the largest decrease in Mauritania (down 94.3%).
Insurance and financial services: full country ranking
| # | Country | Latest | Year | 10-year change | Trend |
|---|---|---|---|---|---|
| 1 | Luxembourg | 49.4% | 2025 | down 15.0% | falling |
| 2 | Bahrain | 35.0% | 2024 | down 36.6% | volatile |
| 3 | Cayman Islands | 30.3% | 2024 | down 13.7% | falling |
| 4 | Libya | 27.7% | 2023 | up 24.6% | volatile |
| 5 | Macau, China | 22.1% | 2024 | up 57.5% | rising |
| 6 | United States of America | 20.3% | 2025 | up 16.5% | volatile |
| 7 | Congo, Democratic Republic of the | 20.0% | 2025 | down 13.4% | rising |
| 8 | Gambia | 19.8% | 2024 | up 103.7% | rising |
| 9 | Tajikistan | 19.5% | 2025 | up 2,739.9% | volatile |
| 10 | Iraq | 19.4% | 2024 | up 1.4% | falling |
| 11 | Saint Kitts and Nevis | 18.5% | 2025 | up 87.3% | rising |
| 12 | Trinidad and Tobago | 18.2% | 2025 | up 54.0% | volatile |
| 13 | Panama | 17.8% | 2025 | up 5.2% | rising |
| 14 | Bermuda | 17.6% | 2023 | down 9.7% | rising |
| 15 | Cyprus | 17.1% | 2025 | down 33.5% | volatile |
| 16 | Burkina Faso | 16.8% | 2024 | down 8.9% | rising |
| 17 | Nicaragua | 16.3% | 2024 | up 49.4% | volatile |
| 18 | Mexico | 15.8% | 2025 | down 5.8% | rising |
| 19 | Belize | 15.1% | 2025 | down 29.0% | rising |
| 20 | Oman | 14.5% | 2024 | up 19.6% | volatile |
| 21 | Ghana | 14.5% | 2025 | up 693.8% | flat |
| 22 | El Salvador | 14.3% | 2025 | down 23.1% | rising |
| 23 | Kenya | 14.3% | 2024 | up 54.4% | rising |
| 24 | Ecuador | 14.2% | 2025 | down 2.3% | rising |
| 25 | Iran, Islamic Republic of | 13.5% | 2000 | up 25.4% | rising |
| 26 | Saint Vincent and the Grenadines | 13.5% | 2025 | up 33.6% | rising |
| 27 | Ethiopia | 13.3% | 2024 | up 223.0% | rising |
| 28 | Dominica | 13.0% | 2025 | up 3.0% | rising |
| 29 | New Zealand | 13.0% | 2025 | up 44.0% | rising |
| 30 | Japan | 12.9% | 2025 | up 110.5% | rising |
| 31 | Bahamas | 12.7% | 2024 | up 51.2% | volatile |
| 32 | Yemen | 12.4% | 2016 | up 66.0% | rising |
| 33 | Timor-Leste | 12.4% | 2025 | up 54.8% | volatile |
| 34 | Dominican Republic | 12.3% | 2025 | down 27.7% | volatile |
| 35 | Togo | 12.2% | 2020 | up 10.9% | rising |
| 36 | Egypt | 12.0% | 2025 | up 16.7% | rising |
| 37 | Chile | 12.0% | 2025 | up 1.6% | volatile |
| 38 | Hong Kong, China | 11.9% | 2024 | up 49.1% | rising |
| 39 | Kyrgyzstan | 11.7% | 2024 | up 471.4% | volatile |
| 40 | Jordan | 11.7% | 2024 | up 6.2% | rising |
| 41 | Bhutan | 11.4% | 2024 | up 425.5% | volatile |
| 42 | Guatemala | 10.9% | 2024 | down 25.8% | rising |
| 43 | Pakistan | 10.8% | 2025 | up 87.2% | volatile |
| 44 | Philippines | 10.7% | 2025 | up 86.3% | volatile |
| 45 | Colombia | 10.7% | 2025 | down 10.2% | rising |
| 46 | Italy | 10.6% | 2025 | down 5.4% | falling |
| 47 | Burundi | 10.6% | 2025 | up 81.8% | volatile |
| 48 | France | 10.4% | 2025 | up 85.7% | volatile |
| 49 | Bolivia, Plurinational State of | 10.3% | 2025 | up 46.8% | flat |
| 50 | Antigua and Barbuda | 10.2% | 2025 | up 14.2% | rising |
| 51 | Turks and Caicos Islands | 10.1% | 2018 | — | rising |
| 52 | Sierra Leone | 10.1% | 2024 | up 113.4% | flat |
| 53 | Costa Rica | 10.1% | 2025 | down 19.8% | rising |
| 54 | Sao Tome and Principe | 9.8% | 2024 | up 610.7% | falling |
| 55 | United Kingdom of Great Britain and Northern Ireland | 9.8% | 2025 | up 2.1% | rising |
| 56 | Armenia | 9.7% | 2025 | up 162.5% | rising |
| 57 | Samoa | 9.6% | 2025 | down 5.6% | volatile |
| 58 | Indonesia | 9.5% | 2025 | up 72.7% | rising |
| 59 | Cameroon | 9.4% | 2024 | up 37.3% | rising |
| 60 | Liberia | 9.2% | 2024 | up 29.6% | volatile |
| 61 | Grenada | 9.1% | 2025 | up 22.1% | rising |
| 62 | Canada | 9.0% | 2025 | down 12.8% | rising |
| 63 | Türkiye | 8.9% | 2024 | down 42.3% | rising |
| 64 | Cambodia | 8.9% | 2025 | up 39.6% | rising |
| 65 | Kuwait | 8.9% | 2025 | up 119.3% | volatile |
| 66 | Belgium | 8.9% | 2025 | up 31.7% | rising |
| 67 | Nigeria | 8.8% | 2025 | up 11.1% | rising |
| 68 | Ireland | 8.8% | 2024 | down 21.8% | falling |
| 69 | Greece | 8.7% | 2024 | down 21.0% | rising |
| 70 | Honduras | 8.4% | 2025 | up 27.0% | volatile |
| 71 | Germany | 8.3% | 2025 | up 25.7% | volatile |
| 72 | Tanzania, United Republic of | 8.1% | 2024 | up 297.3% | falling |
| 73 | Peru | 8.0% | 2025 | down 1.8% | falling |
| 74 | Guinea | 7.9% | 2024 | down 3.5% | volatile |
| 75 | Central African Republic | 7.9% | 1994 | up 13.1% | rising |
| 76 | Zambia | 7.9% | 2024 | down 14.4% | volatile |
| 77 | Fiji | 7.9% | 2024 | up 6.8% | falling |
| 78 | Georgia | 7.8% | 2025 | down 9.1% | flat |
| 79 | Saint Lucia | 7.4% | 2025 | down 8.1% | rising |
| 80 | Zimbabwe | 7.3% | 2024 | down 19.9% | volatile |
| 81 | Thailand | 7.1% | 2025 | up 32.3% | rising |
| 82 | Angola | 7.0% | 2025 | up 104.8% | rising |
| 83 | Saudi Arabia | 6.8% | 2025 | up 5.6% | volatile |
| 84 | Mozambique | 6.8% | 2024 | up 99.2% | volatile |
| 85 | Netherlands | 6.6% | 2024 | up 8.3% | volatile |
| 86 | Mauritius | 6.6% | 2024 | down 16.1% | volatile |
| 87 | Senegal | 6.6% | 2023 | down 36.2% | falling |
| 88 | Comoros | 6.5% | 2023 | down 46.2% | rising |
| 89 | Lebanon | 6.5% | 2023 | down 28.9% | volatile |
| 90 | Uruguay | 6.5% | 2025 | up 1.3% | rising |
| 91 | Andorra | 6.5% | 2024 | up 127.0% | rising |
| 92 | Singapore | 6.4% | 2025 | up 35.0% | rising |
| 93 | Barbados | 6.4% | 2017 | up 9.8% | rising |
| 94 | Maldives | 6.4% | 2024 | up 30.0% | volatile |
| 95 | Aruba | 6.4% | 2023 | up 139.0% | volatile |
| 96 | Slovenia | 6.4% | 2025 | up 18.3% | rising |
| 97 | Palau | 6.4% | 2023 | up 124.0% | volatile |
| 98 | Bulgaria | 6.3% | 2025 | down 49.4% | rising |
| 99 | Jamaica | 6.3% | 2024 | down 36.2% | falling |
| 100 | Paraguay | 6.3% | 2025 | down 25.4% | falling |
| 101 | Iceland | 6.2% | 2025 | up 108.1% | falling |
| 102 | Kosovo | 6.2% | 2025 | down 29.2% | flat |
| 102 | Kosovo (UNSCR 1244) | 6.2% | 2025 | down 29.2% | flat |
| 104 | Czechia | 6.1% | 2025 | up 12.4% | falling |
| 105 | Spain | 6.0% | 2025 | down 33.2% | rising |
| 106 | Palestine, State of | 6.0% | 2025 | up 51.4% | rising |
| 107 | Malaysia | 5.9% | 2024 | down 16.1% | rising |
| 108 | South Africa | 5.7% | 2025 | up 33.6% | falling |
| 109 | Gabon | 5.6% | 2015 | down 13.8% | rising |
| 110 | Kazakhstan | 5.6% | 2025 | up 223.9% | rising |
| 111 | Bangladesh | 5.6% | 2025 | down 16.1% | rising |
| 112 | Mongolia | 5.5% | 2024 | down 10.7% | volatile |
| 113 | Portugal | 5.4% | 2024 | down 27.1% | rising |
| 114 | Croatia | 5.3% | 2024 | down 44.3% | rising |
| 115 | Tuvalu | 5.2% | 2023 | down 7.0% | volatile |
| 116 | French Polynesia | 5.2% | 2016 | down 8.8% | rising |
| 117 | Poland | 5.2% | 2025 | down 16.6% | volatile |
| 118 | Bosnia and Herzegovina | 4.8% | 2025 | down 34.0% | falling |
| 119 | Vanuatu | 4.8% | 2022 | down 54.3% | flat |
| 120 | Switzerland | 4.8% | 2025 | down 17.3% | volatile |
| 121 | Hungary | 4.6% | 2025 | up 29.3% | falling |
| 122 | New Caledonia | 4.5% | 2016 | up 135.7% | rising |
| 123 | Finland | 4.5% | 2025 | down 29.6% | volatile |
| 124 | Nepal | 4.4% | 2024 | up 25.1% | rising |
| 125 | Haiti | 4.4% | 2024 | up 705.1% | volatile |
| 126 | Qatar | 4.3% | 2025 | down 54.6% | falling |
| 127 | Romania | 4.3% | 2025 | down 14.9% | falling |
| 128 | Malawi | 4.3% | 2024 | down 51.0% | volatile |
| 129 | Austria | 4.3% | 2025 | down 21.4% | falling |
| 130 | Lithuania | 4.3% | 2025 | up 36.3% | rising |
| 131 | Solomon Islands | 4.2% | 2024 | up 3.1% | volatile |
| 132 | Slovakia | 4.1% | 2025 | down 17.0% | falling |
| 133 | Mali | 4.0% | 2024 | up 21.3% | falling |
| 134 | Venezuela, Bolivarian Republic of | 4.0% | 2016 | down 56.0% | rising |
| 135 | Côte d'Ivoire | 4.0% | 2024 | down 15.6% | falling |
| 136 | Syrian Arab Republic | 3.9% | 2010 | up 101.9% | rising |
| 137 | Rwanda | 3.9% | 2024 | up 227.9% | volatile |
| 138 | Guinea-Bissau | 3.9% | 2024 | down 19.3% | falling |
| 139 | Sudan | 3.9% | 2022 | down 60.1% | volatile |
| 140 | Belarus | 3.8% | 2021 | down 30.2% | rising |
| 141 | Sri Lanka | 3.8% | 2024 | down 68.6% | rising |
| 142 | Curaçao | 3.7% | 2023 | up 42.8% | rising |
| 143 | Cape Verde | 3.7% | 2025 | down 27.8% | volatile |
| 144 | Norway | 3.7% | 2025 | down 5.7% | rising |
| 145 | Tunisia | 3.7% | 2024 | down 61.2% | falling |
| 146 | Korea | 3.6% | 2025 | up 57.5% | volatile |
| 147 | Ukraine | 3.6% | 2024 | down 53.4% | falling |
| 148 | Uzbekistan | 3.5% | 2025 | up 45.9% | falling |
| 149 | Uganda | 3.5% | 2024 | up 7.3% | falling |
| 150 | Argentina | 3.4% | 2025 | down 15.6% | falling |
| 151 | Albania | 3.3% | 2025 | up 2.1% | volatile |
| 152 | Brazil | 3.2% | 2025 | down 4.3% | rising |
| 153 | San Marino | 3.2% | 2023 | up 41.9% | rising |
| 154 | Seychelles | 3.1% | 2024 | up 60.6% | volatile |
| 155 | China | 3.1% | 2025 | up 15.6% | falling |
| 156 | Latvia | 3.0% | 2025 | down 60.6% | falling |
| 157 | Algeria | 3.0% | 2024 | up 22.9% | falling |
| 158 | India | 2.9% | 2025 | down 43.6% | rising |
| 159 | Tonga | 2.8% | 2024 | down 60.4% | falling |
| 160 | Micronesia, Federated States of | 2.8% | 2014 | up 22.6% | rising |
| 161 | Azerbaijan | 2.7% | 2025 | up 46.6% | rising |
| 162 | Djibouti | 2.7% | 2024 | down 37.8% | falling |
| 163 | Benin | 2.7% | 2023 | down 10.5% | volatile |
| 164 | Kiribati | 2.6% | 2025 | down 8.7% | falling |
| 165 | Malta | 2.6% | 2024 | down 92.2% | volatile |
| 166 | Morocco | 2.6% | 2025 | down 15.3% | falling |
| 167 | Sweden | 2.5% | 2025 | down 27.9% | volatile |
| 168 | Australia | 2.5% | 2025 | down 45.2% | falling |
| 169 | Lesotho | 2.3% | 2025 | down 45.0% | volatile |
| 170 | Brunei Darussalam | 2.3% | 2025 | up 228.7% | volatile |
| 171 | Suriname | 2.2% | 2025 | down 58.4% | rising |
| 172 | Naoero | 2.2% | 2024 | up 213.6% | volatile |
| 173 | Estonia | 2.2% | 2025 | down 37.2% | falling |
| 174 | Papua New Guinea | 2.1% | 2024 | down 71.0% | volatile |
| 175 | Lao People's Democratic Republic | 2.1% | 2024 | up 89.8% | volatile |
| 176 | Congo | 2.1% | 2021 | down 30.0% | rising |
| 177 | Botswana | 2.1% | 2024 | up 322.0% | volatile |
| 178 | Sint Maarten (Dutch part) | 2.0% | 2023 | down 27.5% | rising |
| 179 | Republic of Moldova | 1.9% | 2025 | up 29.5% | volatile |
| 180 | Namibia | 1.9% | 2024 | down 37.1% | falling |
| 181 | Myanmar | 1.7% | 2019 | down 71.7% | volatile |
| 182 | Serbia | 1.7% | 2025 | down 54.9% | falling |
| 183 | Denmark | 1.6% | 2024 | down 16.7% | falling |
| 184 | Montenegro | 1.6% | 2025 | down 9.5% | volatile |
| 185 | Russian Federation | 1.6% | 2025 | down 59.2% | rising |
| 186 | South Sudan | 1.6% | 2023 | down 91.9% | volatile |
| 187 | Chad | 1.5% | 1994 | down 70.3% | rising |
| 188 | Israel | 1.4% | 2025 | down 26.9% | volatile |
| 189 | Eswatini | 1.4% | 2024 | down 78.8% | volatile |
| 190 | Madagascar | 1.4% | 2024 | up 167.4% | volatile |
| 191 | Afghanistan | 1.4% | 2020 | down 17.7% | volatile |
| 192 | Guyana | 1.2% | 2023 | down 89.6% | falling |
| 193 | North Macedonia | 1.2% | 2025 | down 67.3% | volatile |
| 194 | Niger | 1.0% | 2024 | down 27.0% | volatile |
| 195 | Faroe Islands | 0.8% | 2011 | down 91.9% | volatile |
| 196 | Marshall Islands | 0.3% | 2021 | down 86.7% | volatile |
| 197 | Mauritania | 0.0% | 2023 | down 94.3% | volatile |
Regions and income groups
Aggregates are excluded from the country ranking above so that a region can never outrank a country.
- North America 18.5%
- Caribbean Small States 14.7%
- Pre-demographic dividend 11.7%
- OECD members 11.5%
- Post-demographic dividend 11.4%
- Latin America & Caribbean 11.2%
- Latin America & the Caribbean (IDA & IBRD countries) 11.2%
- Latin America & Caribbean (excluding high income) 11.0%
- High income 10.8%
- Middle East, North Africa, Afghanistan & Pakistan (IDA & IBRD) 9.6%
- Middle East, North Africa, Afghanistan & Pakistan (excluding high income) 9.5%
- World 9.4%
- Heavily indebted poor countries (HIPC) 9.3%
- Arab World 8.9%
- IDA blend 8.8%
- Early-demographic dividend 8.7%
- Euro area 8.7%
- Middle East, North Africa, Afghanistan & Pakistan 8.5%
- IDA total 8.4%
- Africa Western and Central 8.3%
- IDA only 8.2%
- European Union 8.0%
- Least developed countries 7.9%
- Sub-Saharan Africa (excluding high income) 7.8%
- Sub-Saharan Africa 7.8%
- Sub-Saharan Africa (IDA & IBRD countries) 7.8%
- Small states 7.8%
- Europe & Central Asia 7.7%
- Africa Eastern and Southern 7.6%
- Pacific island small states 7.5%
- Europe & Central Asia (excluding high income) 7.1%
- Low income 6.4%
- Upper middle income 6.0%
- Low & middle income 5.9%
- Middle income 5.9%
- IDA & IBRD total 5.9%
- East Asia & Pacific 5.8%
- IBRD only 5.7%
- Other small states 5.7%
- Lower middle income 5.5%
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 imports which are commercial services provided by non-residents to residents.