Insurance and financial services (% of commercial service imports) in Jamaica
Jamaica: Insurance and financial services (% of commercial service imports) was 6.4% in 2025. ▼ Falling
Insurance and financial services in Jamaica, 1976–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service imports.
Analysis
Jamaica recorded 6.4% for insurance and financial services in 2025.
Compared with earlier readings it is down 2.9% on the previous year and down 30.2% over ten years.
Over the whole period, insurance and financial services in Jamaica peaked at 16.5% in 1977 and was at its lowest, 4.6%, in 1999.
That places Jamaica 95th out of 197 countries with data for 2025, putting it in the middle of the range.
The long-run direction has been consistently falling across the 50 years of available data.
Insurance and financial services (% of commercial service imports) in Jamaica, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1976 | 13.5% | — |
| 1977 | 16.5% | +22.2% |
| 1978 | 14.8% | -10.7% |
| 1979 | 12.9% | -12.7% |
| 1980 | 12.3% | -4.9% |
| 1981 | 11.9% | -3.1% |
| 1982 | 11.4% | -4.1% |
| 1983 | 11.0% | -3.6% |
| 1984 | 8.7% | -21.3% |
| 1985 | 8.6% | -0.3% |
| 1986 | 10.2% | +18.7% |
| 1987 | 9.0% | -12.1% |
| 1988 | 7.2% | -19.6% |
| 1989 | 6.2% | -13.6% |
| 1990 | 6.7% | +6.8% |
| 1991 | 6.9% | +3.9% |
| 1992 | 6.5% | -6.3% |
| 1993 | 7.5% | +14.9% |
| 1994 | 8.8% | +17.9% |
| 1995 | 9.2% | +4.1% |
| 1996 | 7.8% | -15.0% |
| 1997 | 6.6% | -14.7% |
| 1998 | 6.0% | -10.3% |
| 1999 | 4.6% | -22.0% |
| 2000 | 7.6% | +63.6% |
| 2001 | 8.4% | +10.2% |
| 2002 | 8.8% | +4.8% |
| 2003 | 7.4% | -15.8% |
| 2004 | 9.4% | +26.7% |
| 2005 | 10.0% | +7.2% |
| 2006 | 10.7% | +6.8% |
| 2007 | 10.6% | -1.4% |
| 2008 | 10.3% | -2.7% |
| 2009 | 11.0% | +7.0% |
| 2010 | 11.3% | +2.8% |
| 2011 | 9.8% | -13.6% |
| 2012 | 9.8% | +0.6% |
| 2013 | 8.7% | -11.5% |
| 2014 | 9.9% | +13.4% |
| 2015 | 9.1% | -7.4% |
| 2016 | 9.2% | +0.4% |
| 2017 | 7.6% | -16.9% |
| 2018 | 7.5% | -1.2% |
| 2019 | 7.0% | -7.5% |
| 2020 | 9.8% | +40.6% |
| 2021 | 5.7% | -42.1% |
| 2022 | 6.1% | +7.6% |
| 2023 | 5.3% | -13.7% |
| 2024 | 6.6% | +24.6% |
| 2025 | 6.4% | -2.9% |
Jamaica compared with similar countries
- Jamaica's 6.4% is above the median for upper middle income countries, which is 6.4%, 1.0× the median. (55 countries reporting)
- Jamaica's 6.4% is below the median for Latin America & Caribbean, which is 10.0%, 64% of the median. (37 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 14.4% | 12.9% | 16.5% | 4 |
| 1980s | 9.7% | 6.2% | 12.3% | 10 |
| 1990s | 7.1% | 4.6% | 9.2% | 10 |
| 2000s | 9.4% | 7.4% | 11.0% | 10 |
| 2010s | 9.0% | 7.0% | 11.3% | 10 |
| 2020s | 6.6% | 5.3% | 9.8% | 6 |
Countries ranked near Jamaica
More private sector data for Jamaica
- Merchandise trade 41.3% (2025)
- Food imports 22.2% (2025)
- Manufactures imports 53.3% (2025)
- Merchandise imports 7.68 billion current US$ (2025)
- Commercial service imports 3.55 billion current US$ (2025)
- Food exports 29.5% (2025)
- Manufactures exports 3.9% (2025)
- Merchandise exports 1.69 billion current US$ (2025)
- Commercial service exports 5.03 billion current US$ (2025)
- Merchandise exports (current US$), per capita 595.33 current US$ per person (2025)
Frequently asked questions
- What is insurance and financial services in Jamaica?
- Insurance and financial services in Jamaica was 6.4% 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 Jamaica?
- The highest recorded value was 16.5% in 1977.
- What is the lowest insurance and financial services recorded in Jamaica?
- The lowest recorded value was 4.6% in 1999.
- How does Jamaica rank for insurance and financial services?
- Jamaica ranks 95th out of 197 countries with data for 2025.
- Is insurance and financial services rising or falling in Jamaica?
- Over the last ten years it is down 30.2%. The long-run trend across the full record is falling.
- Where does this Jamaica 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.