Insurance and financial services in Ireland
Ireland: Insurance and financial services was 8.8% in 2024. ▼ Falling
Insurance and financial services in Ireland, 2005–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service imports.
Analysis
Ireland recorded 8.8% for insurance and financial services in 2024.
Compared with earlier readings it is down 1.6% on the previous year and down 21.8% over ten years.
Over the whole period, insurance and financial services in Ireland peaked at 17.5% in 2006 and was at its lowest, 6.8%, in 2019.
Ireland ranks 68th of 197 countries on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 20 years of available data.
Insurance and financial services in Ireland, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 2005 | 15.0% | — |
| 2006 | 17.5% | +16.1% |
| 2007 | 17.0% | -2.5% |
| 2008 | 14.3% | -16.1% |
| 2009 | 14.1% | -1.4% |
| 2010 | 13.3% | -5.2% |
| 2011 | 12.9% | -3.5% |
| 2012 | 14.1% | +9.6% |
| 2013 | 11.7% | -16.7% |
| 2014 | 11.2% | -4.4% |
| 2015 | 9.8% | -12.4% |
| 2016 | 8.4% | -14.8% |
| 2017 | 8.6% | +2.9% |
| 2018 | 10.0% | +16.1% |
| 2019 | 6.8% | -31.6% |
| 2020 | 7.6% | +11.6% |
| 2021 | 10.0% | +31.2% |
| 2022 | 9.6% | -4.0% |
| 2023 | 8.9% | -7.3% |
| 2024 | 8.8% | -1.6% |
Ireland compared with similar countries
- Ireland's 8.8% is above the median for high income countries, which is 6.4%, 1.4× the median. (72 countries reporting)
- Ireland's 8.8% is above the median for Europe & Central Asia, which is 5.2%, 1.7× the median. (51 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 15.6% | 14.1% | 17.5% | 5 |
| 2010s | 10.7% | 6.8% | 14.1% | 10 |
| 2020s | 9.0% | 7.6% | 10.0% | 5 |
Countries ranked near Ireland
More private sector data for Ireland
- Merchandise trade 62.7% (2025)
- Food imports 9.4% (2024)
- Manufactures imports 82.7% (2024)
- Merchandise imports 159.22 billion current US$ (2025)
- Food exports 7.9% (2024)
- Manufactures exports 90.7% (2024)
- Merchandise exports 293.42 billion current US$ (2025)
- Merchandise exports (current US$), per capita 53,501 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.4066 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 21.65 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Ireland?
- Insurance and financial services in Ireland was 8.8% 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 Ireland?
- The highest recorded value was 17.5% in 2006.
- What is the lowest insurance and financial services recorded in Ireland?
- The lowest recorded value was 6.8% in 2019.
- How does Ireland rank for insurance and financial services?
- Ireland ranks 68th out of 197 countries with data for 2024.
- Is insurance and financial services rising or falling in Ireland?
- Over the last ten years it is down 21.8%. The long-run trend across the full record is falling.
- Where does this Ireland 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 — 20 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.