Insurance and financial services (% of commercial service imports) in IDA total
IDA total: Insurance and financial services (% of commercial service imports) was 8.2% in 2024. ▲ Rising
Insurance and financial services in IDA total, 1977–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service imports.
Analysis
IDA total recorded 8.2% for insurance and financial services in 2024. That is the highest value across all 48 years on record.
That represents a change of up 11.3% on the previous year and up 21.1% over ten years.
Over the whole period, insurance and financial services in IDA total peaked at 8.2% in 2024 and was at its lowest, 4.5%, in 1995.
IDA total ranks 23rd of 47 groups on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 48 years of available data.
Insurance and financial services (% of commercial service imports) in IDA total, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1977 | 5.3% | — |
| 1978 | 4.7% | -12.6% |
| 1979 | 5.1% | +10.1% |
| 1980 | 5.6% | +9.1% |
| 1981 | 5.3% | -5.0% |
| 1982 | 5.5% | +3.1% |
| 1983 | 5.3% | -2.4% |
| 1984 | 5.5% | +2.8% |
| 1985 | 5.7% | +4.2% |
| 1986 | 5.7% | -0.0% |
| 1987 | 5.4% | -5.0% |
| 1988 | 5.8% | +6.3% |
| 1989 | 5.6% | -4.0% |
| 1990 | 5.2% | -6.7% |
| 1991 | 5.1% | -0.8% |
| 1992 | 5.6% | +9.6% |
| 1993 | 4.7% | -16.2% |
| 1994 | 4.8% | +0.8% |
| 1995 | 4.5% | -5.7% |
| 1996 | 5.1% | +14.5% |
| 1997 | 5.2% | +0.9% |
| 1998 | 5.1% | -1.0% |
| 1999 | 5.0% | -2.3% |
| 2000 | 5.0% | +0.3% |
| 2001 | 6.5% | +30.2% |
| 2002 | 5.6% | -14.6% |
| 2003 | 6.1% | +9.8% |
| 2004 | 5.9% | -4.4% |
| 2005 | 5.3% | -9.1% |
| 2006 | 5.4% | +0.6% |
| 2007 | 4.8% | -10.3% |
| 2008 | 5.4% | +12.4% |
| 2009 | 5.2% | -4.3% |
| 2010 | 5.1% | -1.7% |
| 2011 | 5.4% | +5.3% |
| 2012 | 6.4% | +18.9% |
| 2013 | 6.6% | +3.4% |
| 2014 | 6.8% | +2.9% |
| 2015 | 6.2% | -8.0% |
| 2016 | 6.9% | +10.7% |
| 2017 | 7.3% | +5.2% |
| 2018 | 7.1% | -2.5% |
| 2019 | 6.8% | -4.5% |
| 2020 | 7.7% | +13.8% |
| 2021 | 7.6% | -1.2% |
| 2022 | 7.1% | -6.8% |
| 2023 | 7.4% | +4.0% |
| 2024 | 8.2% | +11.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 5.0% | 4.7% | 5.3% | 3 |
| 1980s | 5.5% | 5.3% | 5.8% | 10 |
| 1990s | 5.0% | 4.5% | 5.6% | 10 |
| 2000s | 5.5% | 4.8% | 6.5% | 10 |
| 2010s | 6.4% | 5.1% | 7.3% | 10 |
| 2020s | 7.6% | 7.1% | 8.2% | 5 |
Countries ranked near IDA total
More private sector data for IDA total
- Merchandise trade 40.1% (2025)
- Food imports 15.2% (2023)
- Manufactures imports 56.6% (2023)
- Merchandise imports 720.00 billion current US$ (2025)
- Commercial service imports 177.73 billion current US$ (2024)
- Food exports 22.6% (2024)
- Manufactures exports 26.0% (2024)
- Merchandise exports 565.68 billion current US$ (2025)
- Commercial service exports 141.85 billion current US$ (2025)
- Merchandise exports (current US$), per capita 284.71 current US$ per person (2025)
Frequently asked questions
- What is insurance and financial services in IDA total?
- Insurance and financial services in IDA total was 8.2% 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 IDA total?
- The highest recorded value was 8.2% in 2024.
- What is the lowest insurance and financial services recorded in IDA total?
- The lowest recorded value was 4.5% in 1995.
- How does IDA total rank for insurance and financial services?
- IDA total ranks 23rd out of 47 groups with data for 2024.
- Is insurance and financial services rising or falling in IDA total?
- Over the last ten years it is up 21.1%. The long-run trend across the full record is rising.
- Where does this IDA total 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.