Insurance and financial services (% of commercial service imports) in Iraq
Iraq: Insurance and financial services (% of commercial service imports) was 21.4% in 2025. ▼ Falling
Insurance and financial services in Iraq, 2005–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service imports.
Analysis
The most recent figure for insurance and financial services in Iraq is 21.4%, measured in 2025.
That represents a change of up 10.5% on the previous year and up 22.3% over ten years.
Over the whole period, insurance and financial services in Iraq peaked at 29.6% in 2009 and was at its lowest, 15.2%, in 2022.
That places Iraq 7th out of 197 countries with data for 2025, putting it in the top 10%.
The long-run direction has been consistently falling across the 21 years of available data.
Insurance and financial services (% of commercial service imports) in Iraq, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 2005 | 18.1% | — |
| 2006 | 19.4% | +7.5% |
| 2007 | 24.5% | +26.0% |
| 2008 | 28.3% | +15.5% |
| 2009 | 29.6% | +4.8% |
| 2010 | 28.8% | -2.8% |
| 2011 | 27.9% | -3.2% |
| 2012 | 27.3% | -2.1% |
| 2013 | 22.4% | -18.1% |
| 2014 | 19.1% | -14.5% |
| 2015 | 17.5% | -8.4% |
| 2016 | 15.4% | -11.8% |
| 2017 | 15.6% | +1.3% |
| 2018 | 17.3% | +10.3% |
| 2019 | 16.7% | -3.5% |
| 2020 | 23.4% | +40.3% |
| 2021 | 16.2% | -30.8% |
| 2022 | 15.2% | -5.7% |
| 2023 | 16.6% | +8.6% |
| 2024 | 19.4% | +17.1% |
| 2025 | 21.4% | +10.5% |
Iraq compared with similar countries
- Iraq's 21.4% is above the median for upper middle income countries, which is 6.4%, 3.4× the median. (55 countries reporting)
- Iraq's 21.4% is above the median for Middle East, North Africa, Afghanistan & Pakistan, which is 6.7%, 3.2× the median. (22 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 24.0% | 18.1% | 29.6% | 5 |
| 2010s | 20.8% | 15.4% | 28.8% | 10 |
| 2020s | 18.7% | 15.2% | 23.4% | 6 |
Countries ranked near Iraq
- 4 Libya 27.7% compare
- 5 Macao 23.7% compare
- 6 United States 23.6% compare
- 8 Democratic Republic of Congo 20.0% compare
- 9 Bermuda 19.7% compare
- 10 Tajikistan 19.5% compare
More private sector data for Iraq
- Merchandise trade 70.0% (2025)
- Food imports 14.2% (2024)
- Manufactures imports 76.3% (2024)
- Merchandise imports 85.19 billion current US$ (2025)
- Commercial service imports 26.61 billion current US$ (2025)
- Food exports 0.5% (2024)
- Manufactures exports 0.4% (2024)
- Merchandise exports 92.91 billion current US$ (2025)
- Commercial service exports 10.31 billion current US$ (2025)
- Merchandise exports (current US$), per capita 1,976 current US$ per person (2025)
Frequently asked questions
- What is insurance and financial services in Iraq?
- Insurance and financial services in Iraq was 21.4% 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 Iraq?
- The highest recorded value was 29.6% in 2009.
- What is the lowest insurance and financial services recorded in Iraq?
- The lowest recorded value was 15.2% in 2022.
- How does Iraq rank for insurance and financial services?
- Iraq ranks 7th out of 197 countries with data for 2025.
- Is insurance and financial services rising or falling in Iraq?
- Over the last ten years it is up 22.3%. The long-run trend across the full record is falling.
- Where does this Iraq 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.