Insurance and financial services (% of commercial service imports) in South Korea
South Korea: Insurance and financial services (% of commercial service imports) was 3.6% in 2025. ◆ Volatile
Insurance and financial services in South Korea, 1976–2025
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 South Korea is 3.6%, measured in 2025.
The figure is down 11.9% on the previous year and up 57.5% over ten years.
Over the whole period, insurance and financial services in South Korea peaked at 8.8% in 1976 and was at its lowest, -0.1%, in 1990.
South Korea ranks 143rd of 197 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services (% of commercial service imports) in South Korea, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1976 | 8.8% | — |
| 1977 | 6.5% | -26.4% |
| 1978 | 5.2% | -20.2% |
| 1979 | 5.7% | +10.1% |
| 1980 | 0.4% | -92.4% |
| 1981 | 0.5% | +22.6% |
| 1982 | 0.9% | +71.5% |
| 1983 | 0.5% | -47.1% |
| 1984 | 3.9% | +715.5% |
| 1985 | 3.0% | -24.5% |
| 1986 | 2.4% | -19.0% |
| 1987 | 1.0% | -58.6% |
| 1988 | 1.4% | +37.7% |
| 1989 | 0.4% | -69.0% |
| 1990 | -0.1% | -122.0% |
| 1991 | 0.2% | -348.0% |
| 1992 | 1.4% | +510.1% |
| 1993 | 1.4% | -3.9% |
| 1994 | 1.5% | +8.3% |
| 1995 | 1.5% | +3.1% |
| 1996 | 1.0% | -30.7% |
| 1997 | 0.8% | -22.4% |
| 1998 | 1.0% | +28.2% |
| 1999 | 0.3% | -74.3% |
| 2000 | 1.0% | +281.9% |
| 2001 | 1.4% | +37.1% |
| 2002 | 1.8% | +25.5% |
| 2003 | 1.2% | -30.4% |
| 2004 | 1.2% | -3.5% |
| 2005 | 1.6% | +39.4% |
| 2006 | 2.2% | +33.7% |
| 2007 | 2.8% | +28.6% |
| 2008 | 2.6% | -9.0% |
| 2009 | 3.9% | +52.1% |
| 2010 | 2.9% | -25.6% |
| 2011 | 2.7% | -8.3% |
| 2012 | 2.9% | +7.1% |
| 2013 | 2.7% | -4.6% |
| 2014 | 2.2% | -19.6% |
| 2015 | 2.3% | +4.8% |
| 2016 | 2.4% | +5.4% |
| 2017 | 2.5% | +4.6% |
| 2018 | 2.1% | -18.8% |
| 2019 | 2.5% | +20.0% |
| 2020 | 3.0% | +20.6% |
| 2021 | 3.1% | +4.8% |
| 2022 | 2.4% | -24.6% |
| 2023 | 3.9% | +66.4% |
| 2024 | 4.1% | +4.9% |
| 2025 | 3.6% | -11.9% |
South Korea compared with similar countries
- South Korea's 3.6% is below the median for high income countries, which is 6.4%, 57% of the median. (72 countries reporting)
- South Korea's 3.6% is below the median for East Asia & Pacific, which is 5.2%, 70% of the median. (32 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services (% of commercial service imports) in South Korea 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 |
|---|---|---|---|
| 1984 | +715.5% | 0.5% | 3.9% |
| 1992 | +510.1% | 0.2% | 1.4% |
| 1991 | +348.0% | -0.1% | 0.2% |
| 2000 | +281.9% | 0.3% | 1.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 6.5% | 5.2% | 8.8% | 4 |
| 1980s | 1.4% | 0.4% | 3.9% | 10 |
| 1990s | 0.9% | -0.1% | 1.5% | 10 |
| 2000s | 2.0% | 1.0% | 3.9% | 10 |
| 2010s | 2.5% | 2.1% | 2.9% | 10 |
| 2020s | 3.4% | 2.4% | 4.1% | 6 |
Countries ranked near South Korea
- 140 Curacao 3.7% compare
- 141 Cape Verde 3.7% compare
- 142 Norway 3.7% compare
- 144 Sudan 3.6% compare
- 145 Uzbekistan 3.5% compare
- 146 San Marino 3.3% compare
More private sector data for South Korea
- Merchandise trade 71.6% (2025)
- Food imports 6.5% (2025)
- Manufactures imports 62.1% (2025)
- Merchandise imports 631.89 billion current US$ (2025)
- Commercial service imports 183.44 billion current US$ (2025)
- Food exports 1.7% (2025)
- Manufactures exports 88.0% (2025)
- Merchandise exports 709.33 billion current US$ (2025)
- Commercial service exports 149.31 billion current US$ (2025)
- Merchandise exports (current US$), per capita 13,724 current US$ per person (2025)
Frequently asked questions
- What is insurance and financial services in South Korea?
- Insurance and financial services in South Korea was 3.6% 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 South Korea?
- The highest recorded value was 8.8% in 1976.
- What is the lowest insurance and financial services recorded in South Korea?
- The lowest recorded value was -0.1% in 1990.
- How does South Korea rank for insurance and financial services?
- South Korea ranks 143rd out of 197 countries with data for 2025.
- Is insurance and financial services rising or falling in South Korea?
- Over the last ten years it is up 57.5%. The long-run trend across the full record is volatile.
- Where does this South Korea 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.