Insurance and financial services in Cyprus
Cyprus: Insurance and financial services was 17.1% in 2025. ◆ Volatile
Insurance and financial services in Cyprus, 1976–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service imports.
Analysis
Cyprus recorded 17.1% for insurance and financial services in 2025.
Compared with earlier readings it is down 1.8% on the previous year and down 33.5% over ten years.
Over the whole period, insurance and financial services in Cyprus peaked at 31.6% in 2020 and was at its lowest, 0.3%, in 1984.
That places Cyprus 15th out of 197 countries with data for 2025, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in Cyprus, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1976 | 6.3% | — |
| 1977 | 6.5% | +2.8% |
| 1978 | 6.7% | +2.7% |
| 1979 | 6.5% | -2.3% |
| 1980 | 2.1% | -68.4% |
| 1981 | 1.6% | -22.5% |
| 1982 | 1.1% | -31.3% |
| 1983 | 0.7% | -32.1% |
| 1984 | 0.3% | -61.1% |
| 1985 | 1.3% | +340.2% |
| 1986 | 6.2% | +385.0% |
| 1987 | 5.8% | -5.8% |
| 1988 | 5.6% | -3.6% |
| 1989 | 6.3% | +11.7% |
| 1990 | 5.9% | -6.3% |
| 1991 | 5.4% | -7.7% |
| 1992 | 5.8% | +7.5% |
| 1993 | 5.8% | -0.9% |
| 1994 | 5.7% | -1.1% |
| 1995 | 6.6% | +15.8% |
| 1996 | 6.8% | +3.2% |
| 1997 | 7.1% | +4.6% |
| 1998 | 7.7% | +8.3% |
| 1999 | 8.3% | +7.1% |
| 2000 | 7.3% | -11.7% |
| 2001 | 7.0% | -4.6% |
| 2002 | 5.5% | -21.3% |
| 2003 | 4.3% | -21.5% |
| 2004 | 6.7% | +55.5% |
| 2005 | 6.0% | -10.0% |
| 2006 | 7.2% | +19.2% |
| 2007 | 6.8% | -5.9% |
| 2008 | 18.0% | +165.6% |
| 2009 | 18.9% | +5.2% |
| 2010 | 22.7% | +20.4% |
| 2011 | 20.3% | -10.7% |
| 2012 | 17.3% | -14.7% |
| 2013 | 20.6% | +19.0% |
| 2014 | 28.7% | +39.2% |
| 2015 | 25.7% | -10.6% |
| 2016 | 28.7% | +12.0% |
| 2017 | 26.6% | -7.6% |
| 2018 | 26.9% | +1.4% |
| 2019 | 26.3% | -2.2% |
| 2020 | 31.6% | +19.9% |
| 2021 | 25.1% | -20.4% |
| 2022 | 26.9% | +7.2% |
| 2023 | 17.3% | -35.9% |
| 2024 | 17.4% | +0.7% |
| 2025 | 17.1% | -1.8% |
Cyprus compared with similar countries
- Cyprus's 17.1% is above the median for high income countries, which is 6.4%, 2.7× the median. (72 countries reporting)
- Cyprus's 17.1% is above the median for Europe & Central Asia, which is 5.2%, 3.3× the median. (51 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Cyprus changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1986 | +385.0% | 1.3% | 6.2% |
| 1985 | +340.2% | 0.3% | 1.3% |
| 2008 | +165.6% | 6.8% | 18.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 6.5% | 6.3% | 6.7% | 4 |
| 1980s | 3.1% | 0.3% | 6.3% | 10 |
| 1990s | 6.5% | 5.4% | 8.3% | 10 |
| 2000s | 8.8% | 4.3% | 18.9% | 10 |
| 2010s | 24.4% | 17.3% | 28.7% | 10 |
| 2020s | 22.6% | 17.1% | 31.6% | 6 |
Countries ranked near Cyprus
More private sector data for Cyprus
- Merchandise trade 52.1% (2025)
- Food imports 15.3% (2024)
- Manufactures imports 59.4% (2024)
- Merchandise imports 15.29 billion current US$ (2025)
- Food exports 22.5% (2024)
- Manufactures exports 22.2% (2024)
- Merchandise exports 6.19 billion current US$ (2025)
- Merchandise exports (current US$), per capita 4,513 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.1501 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 11.94 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Cyprus?
- Insurance and financial services in Cyprus was 17.1% 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 Cyprus?
- The highest recorded value was 31.6% in 2020.
- What is the lowest insurance and financial services recorded in Cyprus?
- The lowest recorded value was 0.3% in 1984.
- How does Cyprus rank for insurance and financial services?
- Cyprus ranks 15th out of 197 countries with data for 2025.
- Is insurance and financial services rising or falling in Cyprus?
- Over the last ten years it is down 33.5%. The long-run trend across the full record is volatile.
- Where does this Cyprus 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.