Insurance and financial services in Guinea-Bissau
Guinea-Bissau: Insurance and financial services was 3.9% in 2024. ▼ Falling
Insurance and financial services in Guinea-Bissau, 1982–2024
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 Guinea-Bissau stood at 3.9%.
The figure is up 48.9% on the previous year and down 19.3% over ten years.
Over the whole period, insurance and financial services in Guinea-Bissau peaked at 6.4% in 2011 and was at its lowest, 0.2%, in 2001.
That places Guinea-Bissau 138th out of 197 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently falling across the 40 years of available data.
Insurance and financial services in Guinea-Bissau, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1982 | 5.0% | — |
| 1983 | 4.5% | -9.1% |
| 1984 | 2.8% | -38.8% |
| 1985 | 3.3% | +17.4% |
| 1986 | 5.1% | +55.2% |
| 1987 | 3.7% | -27.9% |
| 1988 | 4.3% | +17.8% |
| 1989 | 3.5% | -19.2% |
| 1990 | 5.6% | +62.2% |
| 1991 | 3.7% | -33.7% |
| 1992 | 4.8% | +28.1% |
| 1993 | 4.3% | -11.1% |
| 1994 | 4.7% | +10.9% |
| 1995 | 4.7% | +0.2% |
| 1996 | 4.5% | -4.0% |
| 1997 | 5.5% | +21.3% |
| 2001 | 0.2% | -97.1% |
| 2002 | 1.2% | +636.0% |
| 2003 | 1.0% | -10.3% |
| 2004 | 0.4% | -61.0% |
| 2005 | 4.2% | +932.3% |
| 2006 | 3.0% | -29.4% |
| 2007 | 1.9% | -34.2% |
| 2008 | 4.9% | +150.0% |
| 2009 | 5.1% | +5.1% |
| 2010 | 4.9% | -5.2% |
| 2011 | 6.4% | +32.5% |
| 2012 | 1.7% | -73.1% |
| 2013 | 5.4% | +214.1% |
| 2014 | 4.8% | -11.3% |
| 2015 | 6.3% | +31.5% |
| 2016 | 4.6% | -27.7% |
| 2017 | 2.4% | -48.6% |
| 2018 | 3.7% | +57.9% |
| 2019 | 3.2% | -13.3% |
| 2020 | 2.9% | -11.1% |
| 2021 | 2.6% | -8.3% |
| 2022 | 2.7% | +3.7% |
| 2023 | 2.6% | -4.2% |
| 2024 | 3.9% | +48.9% |
Guinea-Bissau compared with similar countries
- Guinea-Bissau's 3.9% is below the median for low income countries, which is 4.2%, 93% of the median. (22 countries reporting)
- Guinea-Bissau's 3.9% is below the median for Sub-Saharan Africa, which is 6.5%, 60% of the median. (45 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Guinea-Bissau 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 |
|---|---|---|---|
| 2005 | +932.3% | 0.4% | 4.2% |
| 2002 | +636.0% | 0.2% | 1.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 4.0% | 2.8% | 5.1% | 8 |
| 1990s | 4.7% | 3.7% | 5.6% | 8 |
| 2000s | 2.4% | 0.2% | 5.1% | 9 |
| 2010s | 4.4% | 1.7% | 6.4% | 10 |
| 2020s | 2.9% | 2.6% | 3.9% | 5 |
Countries ranked near Guinea-Bissau
More private sector data for Guinea-Bissau
- Merchandise trade 31.7% (2025)
- Food imports 41.7% (2018)
- Manufactures imports 38.6% (2018)
- Merchandise imports 489.00 million current US$ (2025)
- Food exports 68.5% (2018)
- Manufactures exports 0.0% (2015)
- Merchandise exports 313.00 million current US$ (2025)
- Merchandise exports (current US$), per capita 139.14 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.1238 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 36.68 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Guinea-Bissau?
- Insurance and financial services in Guinea-Bissau was 3.9% 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 Guinea-Bissau?
- The highest recorded value was 6.4% in 2011.
- What is the lowest insurance and financial services recorded in Guinea-Bissau?
- The lowest recorded value was 0.2% in 2001.
- How does Guinea-Bissau rank for insurance and financial services?
- Guinea-Bissau ranks 138th out of 197 countries with data for 2024.
- Is insurance and financial services rising or falling in Guinea-Bissau?
- Over the last ten years it is down 19.3%. The long-run trend across the full record is falling.
- Where does this Guinea-Bissau 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.