Insurance and financial services in Ecuador
Ecuador: Insurance and financial services was 14.2% in 2025. ▲ Rising
Insurance and financial services in Ecuador, 1976–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service imports.
Analysis
In 2025, insurance and financial services in Ecuador stood at 14.2%.
That represents a change of up 10.5% on the previous year and down 2.3% over ten years.
Over the whole period, insurance and financial services in Ecuador peaked at 16.9% in 2020 and was at its lowest, 1.0%, in 1998.
Ecuador ranks 24th of 197 countries on this measure, in the top quarter.
The long-run direction has been consistently rising across the 50 years of available data.
Insurance and financial services in Ecuador, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1976 | 15.4% | — |
| 1977 | 15.1% | -1.7% |
| 1978 | 15.7% | +4.1% |
| 1979 | 15.2% | -3.5% |
| 1980 | 13.3% | -12.6% |
| 1981 | 12.1% | -9.0% |
| 1982 | 8.9% | -26.6% |
| 1983 | 10.3% | +15.9% |
| 1984 | 7.9% | -23.1% |
| 1985 | 6.9% | -13.0% |
| 1986 | 7.9% | +14.3% |
| 1987 | 7.3% | -7.2% |
| 1988 | 8.2% | +13.1% |
| 1989 | 10.6% | +29.0% |
| 1990 | 8.1% | -24.0% |
| 1991 | 7.2% | -11.5% |
| 1992 | 7.1% | -0.8% |
| 1993 | 5.2% | -26.9% |
| 1994 | 5.9% | +12.9% |
| 1995 | 5.8% | -0.4% |
| 1996 | 4.5% | -22.8% |
| 1997 | 3.0% | -34.0% |
| 1998 | 1.0% | -67.0% |
| 1999 | 3.7% | +273.6% |
| 2000 | 3.4% | -8.0% |
| 2001 | 5.5% | +64.6% |
| 2002 | 6.8% | +22.7% |
| 2003 | 7.8% | +14.2% |
| 2004 | 7.4% | -4.5% |
| 2005 | 7.0% | -6.1% |
| 2006 | 6.3% | -9.3% |
| 2007 | 5.8% | -7.9% |
| 2008 | 6.2% | +6.6% |
| 2009 | 6.3% | +0.8% |
| 2010 | 7.9% | +26.5% |
| 2011 | 10.2% | +29.4% |
| 2012 | 12.0% | +17.4% |
| 2013 | 16.3% | +35.5% |
| 2014 | 15.5% | -4.5% |
| 2015 | 14.5% | -6.5% |
| 2016 | 13.4% | -7.7% |
| 2017 | 10.3% | -23.2% |
| 2018 | 9.9% | -3.6% |
| 2019 | 11.3% | +13.8% |
| 2020 | 16.9% | +49.3% |
| 2021 | 11.7% | -30.5% |
| 2022 | 9.9% | -15.8% |
| 2023 | 11.7% | +18.3% |
| 2024 | 12.9% | +10.0% |
| 2025 | 14.2% | +10.5% |
Ecuador compared with similar countries
- Ecuador's 14.2% is above the median for upper middle income countries, which is 6.3%, 2.3× the median. (55 countries reporting)
- Ecuador's 14.2% is above the median for Latin America & Caribbean, which is 10.1%, 1.4× the median. (37 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Ecuador 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 |
|---|---|---|---|
| 1999 | +273.6% | 1.0% | 3.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 15.3% | 15.1% | 15.7% | 4 |
| 1980s | 9.3% | 6.9% | 13.3% | 10 |
| 1990s | 5.1% | 1.0% | 8.1% | 10 |
| 2000s | 6.2% | 3.4% | 7.8% | 10 |
| 2010s | 12.1% | 7.9% | 16.3% | 10 |
| 2020s | 12.9% | 9.9% | 16.9% | 6 |
Countries ranked near Ecuador
- 21 Ghana 14.5% compare
- 22 El Salvador 14.3% compare
- 23 Kenya 14.3% compare
- 25 Iran, Islamic Republic of 13.5% compare
- 26 Saint Vincent and the Grenadines 13.5% compare
- 27 Ethiopia 13.3% compare
More private sector data for Ecuador
- Merchandise trade 53.6% (2025)
- Food imports 12.2% (2024)
- Manufactures imports 59.2% (2024)
- Merchandise imports 32.65 billion current US$ (2025)
- Food exports 53.7% (2024)
- Manufactures exports 4.9% (2024)
- Merchandise exports 37.15 billion current US$ (2025)
- Merchandise exports (current US$), per capita 2,031 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.2851 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 7.93 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Ecuador?
- Insurance and financial services in Ecuador was 14.2% 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 Ecuador?
- The highest recorded value was 16.9% in 2020.
- What is the lowest insurance and financial services recorded in Ecuador?
- The lowest recorded value was 1.0% in 1998.
- How does Ecuador rank for insurance and financial services?
- Ecuador ranks 24th out of 197 countries with data for 2025.
- Is insurance and financial services rising or falling in Ecuador?
- Over the last ten years it is down 2.3%. The long-run trend across the full record is rising.
- Where does this Ecuador 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 — 50 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.