Insurance and financial services in Guatemala
Guatemala: Insurance and financial services was 10.9% in 2024. ▲ Rising
Insurance and financial services in Guatemala, 1977–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service imports.
Analysis
In 2024, insurance and financial services in Guatemala stood at 10.9%.
The figure is down 9.0% on the previous year and down 25.8% over ten years.
Over the whole period, insurance and financial services in Guatemala peaked at 16.8% in 2020 and was at its lowest, 2.9%, in 1978.
Guatemala ranks 42nd of 197 countries on this measure, in the top quarter.
The long-run direction has been consistently rising across the 48 years of available data.
Insurance and financial services in Guatemala, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1977 | 5.2% | — |
| 1978 | 2.9% | -44.8% |
| 1979 | 3.9% | +35.9% |
| 1980 | 3.5% | -10.0% |
| 1981 | 4.0% | +14.7% |
| 1982 | 5.1% | +25.8% |
| 1983 | 7.0% | +37.6% |
| 1984 | 11.2% | +60.9% |
| 1985 | 7.0% | -37.6% |
| 1986 | 6.3% | -10.5% |
| 1987 | 4.0% | -36.9% |
| 1988 | 4.8% | +20.9% |
| 1989 | 5.1% | +7.5% |
| 1990 | 3.4% | -33.1% |
| 1991 | 4.4% | +28.4% |
| 1992 | 3.8% | -13.6% |
| 1993 | 5.0% | +30.0% |
| 1994 | 5.2% | +4.5% |
| 1995 | 8.7% | +66.9% |
| 1996 | 7.8% | -9.7% |
| 1997 | 6.8% | -13.0% |
| 1998 | 5.3% | -22.1% |
| 1999 | 4.2% | -20.2% |
| 2000 | 8.2% | +94.2% |
| 2001 | 10.2% | +24.1% |
| 2002 | 11.4% | +12.2% |
| 2003 | 13.1% | +14.5% |
| 2004 | 13.3% | +1.5% |
| 2005 | 9.1% | -31.2% |
| 2006 | 10.9% | +19.5% |
| 2007 | 10.4% | -4.7% |
| 2008 | 10.6% | +1.9% |
| 2009 | 10.2% | -3.4% |
| 2010 | 10.6% | +3.4% |
| 2011 | 12.3% | +15.7% |
| 2012 | 14.8% | +21.1% |
| 2013 | 14.1% | -4.6% |
| 2014 | 14.7% | +3.7% |
| 2015 | 13.5% | -7.7% |
| 2016 | 13.2% | -2.3% |
| 2017 | 14.9% | +13.0% |
| 2018 | 14.7% | -1.7% |
| 2019 | 13.9% | -5.2% |
| 2020 | 16.8% | +20.9% |
| 2021 | 13.4% | -20.4% |
| 2022 | 11.5% | -13.9% |
| 2023 | 12.0% | +3.7% |
| 2024 | 10.9% | -9.0% |
Guatemala compared with similar countries
- Guatemala's 10.9% is above the median for upper middle income countries, which is 6.3%, 1.7× the median. (55 countries reporting)
- Guatemala's 10.9% 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 |
|---|---|---|---|---|
| 1970s | 4.0% | 2.9% | 5.2% | 3 |
| 1980s | 5.8% | 3.5% | 11.2% | 10 |
| 1990s | 5.5% | 3.4% | 8.7% | 10 |
| 2000s | 10.8% | 8.2% | 13.3% | 10 |
| 2010s | 13.7% | 10.6% | 14.9% | 10 |
| 2020s | 12.9% | 10.9% | 16.8% | 5 |
Countries ranked near Guatemala
More private sector data for Guatemala
- Merchandise trade 40.7% (2025)
- Food imports 17.4% (2024)
- Manufactures imports 64.4% (2024)
- Merchandise imports 34.61 billion current US$ (2025)
- Food exports 47.5% (2024)
- Manufactures exports 45.9% (2024)
- Merchandise exports 15.56 billion current US$ (2025)
- Merchandise exports (current US$), per capita 832.52 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.1262 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 6.55 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Guatemala?
- Insurance and financial services in Guatemala was 10.9% 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 Guatemala?
- The highest recorded value was 16.8% in 2020.
- What is the lowest insurance and financial services recorded in Guatemala?
- The lowest recorded value was 2.9% in 1978.
- How does Guatemala rank for insurance and financial services?
- Guatemala ranks 42nd out of 197 countries with data for 2024.
- Is insurance and financial services rising or falling in Guatemala?
- Over the last ten years it is down 25.8%. The long-run trend across the full record is rising.
- Where does this Guatemala 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.