Insurance and financial services (% of commercial service imports) in Gambia
Gambia: Insurance and financial services (% of commercial service imports) was 13.5% in 2025. ▲ Rising
Insurance and financial services in Gambia, 1978–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service imports.
Analysis
Gambia recorded 13.5% for insurance and financial services in 2025.
Compared with earlier readings it is down 32.0% on the previous year and up 6.9% over ten years.
Over the whole period, insurance and financial services in Gambia peaked at 19.8% in 2024 and was at its lowest, 5.4%, in 2006.
Gambia ranks 25th of 197 countries on this measure, in the top quarter.
The long-run direction has been consistently rising across the 43 years of available data.
Insurance and financial services (% of commercial service imports) in Gambia, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1978 | 10.1% | — |
| 1979 | 10.0% | -1.1% |
| 1980 | 11.1% | +10.9% |
| 1981 | 10.6% | -4.8% |
| 1982 | 8.8% | -16.4% |
| 1983 | 9.1% | +3.0% |
| 1984 | 9.1% | -0.5% |
| 1985 | 9.1% | +0.7% |
| 1986 | 9.2% | +1.5% |
| 1987 | 6.0% | -35.5% |
| 1988 | 6.0% | +1.1% |
| 1989 | 6.6% | +8.7% |
| 1990 | 9.0% | +37.9% |
| 1991 | 6.1% | -32.6% |
| 1992 | 6.2% | +2.3% |
| 1993 | 6.4% | +2.1% |
| 1994 | 6.1% | -4.6% |
| 1995 | 5.8% | -4.7% |
| 1996 | 6.0% | +4.4% |
| 1997 | 5.8% | -4.3% |
| 2003 | 9.9% | +70.9% |
| 2004 | 10.3% | +4.6% |
| 2005 | 10.8% | +4.0% |
| 2006 | 5.4% | -50.1% |
| 2007 | 7.7% | +43.5% |
| 2008 | 8.0% | +3.8% |
| 2009 | 7.4% | -8.0% |
| 2010 | 7.2% | -2.2% |
| 2011 | 10.7% | +48.9% |
| 2012 | 12.4% | +15.7% |
| 2013 | 12.1% | -2.4% |
| 2014 | 9.7% | -19.6% |
| 2015 | 12.6% | +29.6% |
| 2016 | 12.1% | -4.0% |
| 2017 | 12.0% | -0.3% |
| 2018 | 11.8% | -1.7% |
| 2019 | 11.5% | -3.0% |
| 2020 | 12.3% | +7.3% |
| 2021 | 11.7% | -5.2% |
| 2022 | 11.7% | +0.3% |
| 2023 | 18.1% | +54.6% |
| 2024 | 19.8% | +9.2% |
| 2025 | 13.5% | -32.0% |
Gambia compared with similar countries
- Gambia's 13.5% is above the median for low income countries, which is 4.4%, 3.0× the median. (22 countries reporting)
- Gambia's 13.5% is above the median for Sub-Saharan Africa, which is 4.9%, 2.7× the median. (45 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services (% of commercial service imports) in Gambia 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 |
|---|---|---|---|
| 2003 | +70.9% | 5.8% | 9.9% |
| 2023 | +54.6% | 11.7% | 18.1% |
| 2006 | -50.1% | 10.8% | 5.4% |
| 2011 | +48.9% | 7.2% | 10.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 10.1% | 10.0% | 10.1% | 2 |
| 1980s | 8.6% | 6.0% | 11.1% | 10 |
| 1990s | 6.4% | 5.8% | 9.0% | 8 |
| 2000s | 8.5% | 5.4% | 10.8% | 7 |
| 2010s | 11.2% | 7.2% | 12.6% | 10 |
| 2020s | 14.5% | 11.7% | 19.8% | 6 |
Countries ranked near Gambia
More private sector data for Gambia
- Merchandise trade 54.3% (2025)
- Food imports 22.0% (2024)
- Manufactures imports 44.7% (2024)
- Merchandise imports 894.00 million current US$ (2025)
- Commercial service imports 176.88 million current US$ (2025)
- Food exports 90.7% (2024)
- Manufactures exports 1.0% (2024)
- Merchandise exports 514.00 million current US$ (2025)
- Commercial service exports 461.00 million current US$ (2025)
- Merchandise exports (current US$), per capita 182.13 current US$ per person (2025)
Frequently asked questions
- What is insurance and financial services in Gambia?
- Insurance and financial services in Gambia was 13.5% 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 Gambia?
- The highest recorded value was 19.8% in 2024.
- What is the lowest insurance and financial services recorded in Gambia?
- The lowest recorded value was 5.4% in 2006.
- How does Gambia rank for insurance and financial services?
- Gambia ranks 25th out of 197 countries with data for 2025.
- Is insurance and financial services rising or falling in Gambia?
- Over the last ten years it is up 6.9%. The long-run trend across the full record is rising.
- Where does this Gambia 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 — 43 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.