Insurance and financial services in Europe & Central Asia (IDA & IBRD countries)
Europe & Central Asia (IDA & IBRD countries): Insurance and financial services was 5.2% in 2024. ▼ Falling
Insurance and financial services in Europe & Central Asia (IDA & IBRD countries), 1994–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service imports.
Analysis
Europe & Central Asia (IDA & IBRD countries) recorded 5.2% for insurance and financial services in 2024.
Compared with earlier readings it is up 1.8% on the previous year and down 31.7% over ten years.
Over the whole period, insurance and financial services in Europe & Central Asia (IDA & IBRD countries) peaked at 8.4% in 1998 and was at its lowest, 5.1%, in 2023.
Europe & Central Asia (IDA & IBRD countries) ranks 41st of 47 groups on this measure, in the bottom quarter.
The long-run direction has been consistently falling across the 31 years of available data.
Insurance and financial services in Europe & Central Asia (IDA & IBRD countries), year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1994 | 6.8% | — |
| 1995 | 7.0% | +3.0% |
| 1996 | 7.3% | +4.1% |
| 1997 | 8.4% | +15.3% |
| 1998 | 8.4% | +0.8% |
| 1999 | 7.8% | -7.3% |
| 2000 | 7.1% | -9.7% |
| 2001 | 8.4% | +19.1% |
| 2002 | 8.4% | -0.1% |
| 2003 | 8.2% | -2.7% |
| 2004 | 7.3% | -10.9% |
| 2005 | 6.9% | -5.2% |
| 2006 | 7.6% | +10.0% |
| 2007 | 7.8% | +2.2% |
| 2008 | 7.7% | -0.8% |
| 2009 | 7.9% | +2.9% |
| 2010 | 7.4% | -6.4% |
| 2011 | 7.9% | +6.6% |
| 2012 | 7.7% | -2.6% |
| 2013 | 7.6% | -0.9% |
| 2014 | 7.6% | -0.2% |
| 2015 | 7.8% | +3.0% |
| 2016 | 6.9% | -12.2% |
| 2017 | 6.5% | -6.1% |
| 2018 | 5.8% | -9.6% |
| 2019 | 5.5% | -6.4% |
| 2020 | 7.0% | +27.7% |
| 2021 | 6.2% | -10.6% |
| 2022 | 5.3% | -15.7% |
| 2023 | 5.1% | -3.0% |
| 2024 | 5.2% | +1.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 7.6% | 6.8% | 8.4% | 6 |
| 2000s | 7.7% | 6.9% | 8.4% | 10 |
| 2010s | 7.1% | 5.5% | 7.9% | 10 |
| 2020s | 5.8% | 5.1% | 7.0% | 5 |
Countries ranked near Europe & Central Asia (IDA & IBRD countries)
More private sector data for Europe & Central Asia (IDA & IBRD countries)
- Merchandise trade 47.8% (2025)
- Food imports 9.5% (2024)
- Manufactures imports 69.1% (2024)
- Merchandise imports 1.78 trillion current US$ (2025)
- Food exports 11.3% (2021)
- Manufactures exports 49.6% (2021)
- Merchandise exports 1.60 trillion current US$ (2025)
- Merchandise exports (current US$), per capita 3,468 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.2266 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 2.64 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Europe & Central Asia (IDA & IBRD countries)?
- Insurance and financial services in Europe & Central Asia (IDA & IBRD countries) was 5.2% 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 Europe & Central Asia (IDA & IBRD countries)?
- The highest recorded value was 8.4% in 1998.
- What is the lowest insurance and financial services recorded in Europe & Central Asia (IDA & IBRD countries)?
- The lowest recorded value was 5.1% in 2023.
- How does Europe & Central Asia (IDA & IBRD countries) rank for insurance and financial services?
- Europe & Central Asia (IDA & IBRD countries) ranks 41st out of 47 groups with data for 2024.
- Is insurance and financial services rising or falling in Europe & Central Asia (IDA & IBRD countries)?
- Over the last ten years it is down 31.7%. The long-run trend across the full record is falling.
- Where does this Europe & Central Asia (IDA & IBRD countries) 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.