Insurance and financial services in Botswana
Botswana: Insurance and financial services was 2.1% in 2024. ◆ Volatile
Insurance and financial services in Botswana, 1975–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service imports.
Analysis
In 2024, insurance and financial services in Botswana stood at 2.1%.
That represents a change of down 19.4% on the previous year and up 322.0% over ten years.
Over the whole period, insurance and financial services in Botswana peaked at 12.6% in 1994 and was at its lowest, 0.5%, in 2014.
That places Botswana 177th out of 197 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in Botswana, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1975 | 1.1% | — |
| 1976 | 1.8% | +66.2% |
| 1977 | 2.0% | +11.2% |
| 1978 | 2.3% | +14.6% |
| 1979 | 4.8% | +108.2% |
| 1980 | 4.2% | -12.9% |
| 1981 | 4.1% | -2.6% |
| 1982 | 5.2% | +28.8% |
| 1983 | 5.6% | +6.4% |
| 1984 | 6.5% | +16.7% |
| 1985 | 5.9% | -9.0% |
| 1986 | 6.6% | +11.1% |
| 1987 | 7.4% | +13.1% |
| 1988 | 8.6% | +16.4% |
| 1989 | 7.4% | -13.7% |
| 1990 | 5.5% | -26.1% |
| 1991 | 4.0% | -27.3% |
| 1992 | 5.3% | +33.1% |
| 1993 | 5.8% | +9.6% |
| 1994 | 12.6% | +116.7% |
| 1995 | 8.1% | -36.2% |
| 1996 | 4.2% | -48.0% |
| 1997 | 4.4% | +5.5% |
| 1998 | 3.7% | -16.1% |
| 1999 | 4.1% | +10.6% |
| 2000 | 3.9% | -4.6% |
| 2001 | 4.6% | +17.5% |
| 2002 | 5.1% | +11.7% |
| 2003 | 8.0% | +55.8% |
| 2004 | 10.0% | +24.6% |
| 2005 | 6.1% | -39.2% |
| 2006 | 6.3% | +3.2% |
| 2007 | 5.4% | -13.2% |
| 2008 | 3.5% | -36.4% |
| 2009 | 3.8% | +10.7% |
| 2010 | 4.1% | +7.7% |
| 2011 | 4.9% | +19.9% |
| 2012 | 0.6% | -88.3% |
| 2013 | 0.8% | +31.9% |
| 2014 | 0.5% | -35.2% |
| 2015 | 2.6% | +431.4% |
| 2016 | 1.6% | -40.1% |
| 2017 | 2.2% | +42.5% |
| 2018 | 7.1% | +215.7% |
| 2019 | 8.2% | +15.9% |
| 2020 | 4.4% | -46.2% |
| 2021 | 2.4% | -44.5% |
| 2022 | 1.3% | -44.8% |
| 2023 | 2.6% | +91.2% |
| 2024 | 2.1% | -19.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 2.4% | 1.1% | 4.8% | 5 |
| 1980s | 6.1% | 4.1% | 8.6% | 10 |
| 1990s | 5.8% | 3.7% | 12.6% | 10 |
| 2000s | 5.7% | 3.5% | 10.0% | 10 |
| 2010s | 3.3% | 0.5% | 8.2% | 10 |
| 2020s | 2.6% | 1.3% | 4.4% | 5 |
Countries ranked near Botswana
- 174 Papua New Guinea 2.1% compare
- 175 Lao People's Democratic Republic 2.1% compare
- 176 Congo 2.1% compare
- 178 Sint Maarten (Dutch part) 2.0% compare
- 179 Republic of Moldova 1.9% compare
- 180 Namibia 1.9% compare
More private sector data for Botswana
- Merchandise trade 57.8% (2025)
- Food imports 16.2% (2023)
- Manufactures imports 61.8% (2023)
- Merchandise imports 6.39 billion current US$ (2025)
- Food exports 1.9% (2023)
- Manufactures exports 86.3% (2023)
- Merchandise exports 5.12 billion current US$ (2025)
- Merchandise exports (current US$), per capita 1,998 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.2569 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 9.73 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Botswana?
- Insurance and financial services in Botswana was 2.1% 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 Botswana?
- The highest recorded value was 12.6% in 1994.
- What is the lowest insurance and financial services recorded in Botswana?
- The lowest recorded value was 0.5% in 2014.
- How does Botswana rank for insurance and financial services?
- Botswana ranks 177th out of 197 countries with data for 2024.
- Is insurance and financial services rising or falling in Botswana?
- Over the last ten years it is up 322.0%. The long-run trend across the full record is volatile.
- Where does this Botswana 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.