Insurance and financial services in Azerbaijan
Azerbaijan: Insurance and financial services was 2.7% in 2025. ▲ Rising
Insurance and financial services in Azerbaijan, 1995–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service imports.
Analysis
Azerbaijan recorded 2.7% for insurance and financial services in 2025.
Compared with earlier readings it is down 12.4% on the previous year and up 46.6% over ten years.
Over the whole period, insurance and financial services in Azerbaijan peaked at 5.7% in 2007 and was at its lowest, 0.7%, in 1996.
That places Azerbaijan 161st out of 197 countries with data for 2025, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 29 years of available data.
Insurance and financial services in Azerbaijan, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1995 | 0.8% | — |
| 1996 | 0.7% | -9.9% |
| 1997 | 1.4% | +80.9% |
| 1998 | 1.0% | -25.5% |
| 2001 | 1.8% | +78.8% |
| 2002 | 1.0% | -42.9% |
| 2003 | 1.2% | +17.4% |
| 2004 | 1.4% | +12.3% |
| 2005 | 1.9% | +42.7% |
| 2006 | 4.2% | +114.5% |
| 2007 | 5.7% | +35.9% |
| 2008 | 1.7% | -70.0% |
| 2009 | 2.5% | +45.0% |
| 2010 | 3.1% | +26.8% |
| 2011 | 2.7% | -12.2% |
| 2012 | 2.4% | -12.9% |
| 2013 | 2.1% | -12.9% |
| 2014 | 1.6% | -23.8% |
| 2015 | 1.9% | +17.5% |
| 2016 | 1.7% | -5.7% |
| 2017 | 2.0% | +16.3% |
| 2018 | 3.0% | +48.1% |
| 2019 | 3.2% | +5.6% |
| 2020 | 3.1% | -1.0% |
| 2021 | 3.5% | +12.3% |
| 2022 | 3.0% | -13.7% |
| 2023 | 3.2% | +4.2% |
| 2024 | 3.1% | -2.3% |
| 2025 | 2.7% | -12.4% |
Azerbaijan compared with similar countries
- Azerbaijan's 2.7% is below the median for upper middle income countries, which is 6.3%, 43% of the median. (55 countries reporting)
- Azerbaijan's 2.7% is below the median for Europe & Central Asia, which is 5.2%, 52% of the median. (51 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 1.0% | 0.7% | 1.4% | 4 |
| 2000s | 2.4% | 1.0% | 5.7% | 9 |
| 2010s | 2.4% | 1.6% | 3.2% | 10 |
| 2020s | 3.1% | 2.7% | 3.5% | 6 |
Countries ranked near Azerbaijan
More private sector data for Azerbaijan
- Merchandise trade 65.1% (2025)
- Food imports 12.4% (2025)
- Manufactures imports 53.0% (2025)
- Merchandise imports 24.38 billion current US$ (2025)
- Food exports 5.2% (2025)
- Manufactures exports 5.3% (2025)
- Merchandise exports 25.04 billion current US$ (2025)
- Merchandise exports (current US$), per capita 2,444 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.3298 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate -5.69 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Azerbaijan?
- Insurance and financial services in Azerbaijan was 2.7% 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 Azerbaijan?
- The highest recorded value was 5.7% in 2007.
- What is the lowest insurance and financial services recorded in Azerbaijan?
- The lowest recorded value was 0.7% in 1996.
- How does Azerbaijan rank for insurance and financial services?
- Azerbaijan ranks 161st out of 197 countries with data for 2025.
- Is insurance and financial services rising or falling in Azerbaijan?
- Over the last ten years it is up 46.6%. The long-run trend across the full record is rising.
- Where does this Azerbaijan 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 imports). 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 imports which are commercial services provided by non-residents to residents.