Insurance and financial services in Colombia
Colombia: Insurance and financial services was 10.7% in 2025. ▲ Rising
Insurance and financial services in Colombia, 1968–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service imports.
Analysis
Colombia recorded 10.7% for insurance and financial services in 2025.
The figure is up 14.6% on the previous year and down 10.2% over ten years.
Over the whole period, insurance and financial services in Colombia peaked at 25.7% in 2020 and was at its lowest, 7.3%, in 1976.
Colombia ranks 45th of 197 countries on this measure, in the top quarter.
The long-run direction has been consistently rising across the 58 years of available data.
Insurance and financial services in Colombia, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1968 | 10.1% | — |
| 1969 | 10.0% | -1.7% |
| 1970 | 8.8% | -11.2% |
| 1971 | 10.0% | +13.4% |
| 1972 | 9.1% | -9.4% |
| 1973 | 8.5% | -6.0% |
| 1974 | 7.6% | -11.4% |
| 1975 | 7.5% | -0.6% |
| 1976 | 7.3% | -2.5% |
| 1977 | 8.5% | +16.5% |
| 1978 | 9.4% | +10.0% |
| 1979 | 9.8% | +4.3% |
| 1980 | 10.5% | +7.4% |
| 1981 | 11.6% | +10.2% |
| 1982 | 12.6% | +9.0% |
| 1983 | 12.9% | +2.3% |
| 1984 | 14.7% | +13.9% |
| 1985 | 13.3% | -9.7% |
| 1986 | 12.2% | -8.1% |
| 1987 | 12.5% | +2.0% |
| 1988 | 14.1% | +12.8% |
| 1989 | 14.5% | +3.1% |
| 1990 | 13.7% | -5.6% |
| 1991 | 13.2% | -3.2% |
| 1992 | 12.8% | -3.4% |
| 1993 | 12.7% | -0.5% |
| 1994 | 11.6% | -9.0% |
| 1995 | 12.0% | +3.4% |
| 1996 | 12.7% | +5.8% |
| 1997 | 14.5% | +14.6% |
| 1998 | 11.3% | -22.1% |
| 1999 | 10.2% | -9.6% |
| 2000 | 13.4% | +30.9% |
| 2001 | 15.2% | +13.7% |
| 2002 | 18.3% | +20.0% |
| 2003 | 15.2% | -16.8% |
| 2004 | 13.8% | -9.6% |
| 2005 | 11.7% | -14.6% |
| 2006 | 11.2% | -5.1% |
| 2007 | 9.6% | -13.8% |
| 2008 | 9.7% | +0.6% |
| 2009 | 11.7% | +20.6% |
| 2010 | 13.7% | +17.5% |
| 2011 | 14.1% | +2.7% |
| 2012 | 13.6% | -3.6% |
| 2013 | 13.2% | -2.7% |
| 2014 | 12.8% | -3.1% |
| 2015 | 11.9% | -7.0% |
| 2016 | 11.5% | -3.3% |
| 2017 | 14.8% | +28.9% |
| 2018 | 14.5% | -2.0% |
| 2019 | 16.0% | +10.0% |
| 2020 | 25.7% | +60.9% |
| 2021 | 19.7% | -23.6% |
| 2022 | 10.5% | -46.8% |
| 2023 | 10.3% | -1.2% |
| 2024 | 9.3% | -9.8% |
| 2025 | 10.7% | +14.6% |
Colombia compared with similar countries
- Colombia's 10.7% is above the median for upper middle income countries, which is 6.3%, 1.7× the median. (55 countries reporting)
- Colombia's 10.7% is above the median for Latin America & Caribbean, which is 10.1%, 1.1× the median. (37 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 10.0% | 10.0% | 10.1% | 2 |
| 1970s | 8.7% | 7.3% | 10.0% | 10 |
| 1980s | 12.9% | 10.5% | 14.7% | 10 |
| 1990s | 12.5% | 10.2% | 14.5% | 10 |
| 2000s | 13.0% | 9.6% | 18.3% | 10 |
| 2010s | 13.6% | 11.5% | 16.0% | 10 |
| 2020s | 14.4% | 9.3% | 25.7% | 6 |
Countries ranked near Colombia
More private sector data for Colombia
- Merchandise trade 26.4% (2025)
- Food imports 13.7% (2024)
- Manufactures imports 72.9% (2024)
- Merchandise imports 70.50 billion current US$ (2025)
- Food exports 18.1% (2024)
- Manufactures exports 21.4% (2024)
- Merchandise exports 50.09 billion current US$ (2025)
- Merchandise exports (current US$), per capita 937.49 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.1095 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 1.05 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Colombia?
- Insurance and financial services in Colombia was 10.7% 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 Colombia?
- The highest recorded value was 25.7% in 2020.
- What is the lowest insurance and financial services recorded in Colombia?
- The lowest recorded value was 7.3% in 1976.
- How does Colombia rank for insurance and financial services?
- Colombia ranks 45th out of 197 countries with data for 2025.
- Is insurance and financial services rising or falling in Colombia?
- Over the last ten years it is down 10.2%. The long-run trend across the full record is rising.
- Where does this Colombia 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 — 58 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.