Insurance and financial services in Belarus
Belarus: Insurance and financial services was 3.8% in 2021. ▲ Rising
Insurance and financial services in Belarus, 1993–2021
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service imports.
Analysis
Belarus recorded 3.8% for insurance and financial services in 2021.
That represents a change of down 28.9% on the previous year and down 30.2% over ten years.
Over the whole period, insurance and financial services in Belarus peaked at 12.3% in 1993 and was at its lowest, 0.9%, in 2003.
That places Belarus 140th out of 197 countries with data for 2021, putting it in the middle of the range.
The long-run direction has been consistently rising across the 29 years of available data.
Insurance and financial services in Belarus, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1993 | 12.3% | — |
| 1994 | 5.6% | -54.0% |
| 1995 | 3.6% | -36.4% |
| 1996 | 3.5% | -1.3% |
| 1997 | 3.3% | -6.7% |
| 1998 | 3.7% | +11.6% |
| 1999 | 3.5% | -5.8% |
| 2000 | 2.6% | -26.1% |
| 2001 | 2.0% | -22.2% |
| 2002 | 1.8% | -11.0% |
| 2003 | 0.9% | -51.8% |
| 2004 | 1.7% | +95.4% |
| 2005 | 4.2% | +153.4% |
| 2006 | 3.3% | -21.3% |
| 2007 | 4.7% | +39.9% |
| 2008 | 5.4% | +15.7% |
| 2009 | 6.7% | +23.3% |
| 2010 | 5.2% | -21.3% |
| 2011 | 5.5% | +4.2% |
| 2012 | 6.3% | +14.5% |
| 2013 | 4.7% | -24.5% |
| 2014 | 6.2% | +31.0% |
| 2015 | 6.5% | +5.4% |
| 2016 | 5.9% | -9.5% |
| 2017 | 6.5% | +10.5% |
| 2018 | 5.7% | -13.4% |
| 2019 | 4.6% | -17.9% |
| 2020 | 5.4% | +15.8% |
| 2021 | 3.8% | -28.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 5.1% | 3.3% | 12.3% | 7 |
| 2000s | 3.3% | 0.9% | 6.7% | 10 |
| 2010s | 5.7% | 4.6% | 6.5% | 10 |
| 2020s | 4.6% | 3.8% | 5.4% | 2 |
Countries ranked near Belarus
More private sector data for Belarus
- Merchandise trade 96.1% (2025)
- Food imports 10.3% (2021)
- Manufactures imports 49.4% (2021)
- Merchandise imports 48.37 billion current US$ (2025)
- Food exports 16.6% (2021)
- Manufactures exports 38.4% (2021)
- Merchandise exports 41.40 billion current US$ (2025)
- Merchandise exports (current US$), per capita 4,556 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.4432 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 2.61 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Belarus?
- Insurance and financial services in Belarus was 3.8% in 2021, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Belarus?
- The highest recorded value was 12.3% in 1993.
- What is the lowest insurance and financial services recorded in Belarus?
- The lowest recorded value was 0.9% in 2003.
- How does Belarus rank for insurance and financial services?
- Belarus ranks 140th out of 197 countries with data for 2021.
- Is insurance and financial services rising or falling in Belarus?
- Over the last ten years it is down 30.2%. The long-run trend across the full record is rising.
- Where does this Belarus 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.