Insurance and financial services in Canada
Canada: Insurance and financial services was 9.0% in 2025. ▲ Rising
Insurance and financial services in Canada, 1981–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service imports.
Analysis
Canada recorded 9.0% for insurance and financial services in 2025.
Compared with earlier readings it is down 4.3% on the previous year and down 12.8% over ten years.
Over the whole period, insurance and financial services in Canada peaked at 14.4% in 2020 and was at its lowest, 6.1%, in 1990.
Canada ranks 62nd of 197 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 45 years of available data.
Insurance and financial services in Canada, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1981 | 8.2% | — |
| 1982 | 9.3% | +12.7% |
| 1983 | 9.1% | -1.4% |
| 1984 | 8.9% | -2.3% |
| 1985 | 9.8% | +10.0% |
| 1986 | 9.0% | -8.5% |
| 1987 | 8.7% | -3.5% |
| 1988 | 7.1% | -17.5% |
| 1989 | 7.1% | -0.6% |
| 1990 | 6.1% | -13.5% |
| 1991 | 6.8% | +11.4% |
| 1992 | 6.7% | -1.4% |
| 1993 | 7.0% | +3.3% |
| 1994 | 7.7% | +10.2% |
| 1995 | 7.4% | -3.7% |
| 1996 | 8.4% | +13.1% |
| 1997 | 8.8% | +4.7% |
| 1998 | 8.7% | -0.6% |
| 1999 | 8.0% | -7.9% |
| 2000 | 7.9% | -1.5% |
| 2001 | 8.7% | +10.6% |
| 2002 | 9.4% | +8.0% |
| 2003 | 9.2% | -2.1% |
| 2004 | 8.6% | -7.1% |
| 2005 | 8.7% | +1.6% |
| 2006 | 9.7% | +10.8% |
| 2007 | 9.7% | +0.6% |
| 2008 | 9.0% | -7.6% |
| 2009 | 9.7% | +7.7% |
| 2010 | 10.4% | +8.0% |
| 2011 | 9.4% | -9.5% |
| 2012 | 8.6% | -9.1% |
| 2013 | 8.9% | +3.9% |
| 2014 | 9.3% | +3.6% |
| 2015 | 10.3% | +11.8% |
| 2016 | 11.5% | +10.9% |
| 2017 | 11.0% | -4.0% |
| 2018 | 11.1% | +0.8% |
| 2019 | 10.2% | -8.2% |
| 2020 | 14.4% | +41.5% |
| 2021 | 13.9% | -3.9% |
| 2022 | 10.3% | -26.0% |
| 2023 | 9.2% | -9.9% |
| 2024 | 9.4% | +2.0% |
| 2025 | 9.0% | -4.3% |
Canada compared with similar countries
- Canada's 9.0% is above the median for high income countries, which is 6.4%, 1.4× the median. (72 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 8.6% | 7.1% | 9.8% | 9 |
| 1990s | 7.6% | 6.1% | 8.8% | 10 |
| 2000s | 9.1% | 7.9% | 9.7% | 10 |
| 2010s | 10.1% | 8.6% | 11.5% | 10 |
| 2020s | 11.0% | 9.0% | 14.4% | 6 |
Countries ranked near Canada
More private sector data for Canada
- Merchandise trade 48.8% (2025)
- Food imports 9.2% (2024)
- Manufactures imports 75.5% (2024)
- Merchandise imports 577.44 billion current US$ (2025)
- Food exports 13.5% (2024)
- Manufactures exports 42.3% (2024)
- Merchandise exports 554.68 billion current US$ (2025)
- Merchandise exports (current US$), per capita 13,317 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.2391 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate -2.3 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Canada?
- Insurance and financial services in Canada was 9.0% 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 Canada?
- The highest recorded value was 14.4% in 2020.
- What is the lowest insurance and financial services recorded in Canada?
- The lowest recorded value was 6.1% in 1990.
- How does Canada rank for insurance and financial services?
- Canada ranks 62nd out of 197 countries with data for 2025.
- Is insurance and financial services rising or falling in Canada?
- Over the last ten years it is down 12.8%. The long-run trend across the full record is rising.
- Where does this Canada 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.
Download this data
CSV · JSON — 45 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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.