Insurance and financial services in Lao People's Democratic Republic
Lao People's Democratic Republic: Insurance and financial services was 2.1% in 2024. ◆ Volatile
Insurance and financial services in Lao People's Democratic Republic, 1984–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service imports.
Analysis
In 2024, insurance and financial services in Lao People's Democratic Republic stood at 2.1%.
That represents a change of down 4.1% on the previous year and up 89.8% over ten years.
Over the whole period, insurance and financial services in Lao People's Democratic Republic peaked at 11.1% in 2008 and was at its lowest, -42.8%, in 2007.
Lao People's Democratic Republic ranks 175th of 197 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in Lao People's Democratic Republic, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1984 | 0.5% | — |
| 1985 | 4.0% | +660.0% |
| 1986 | 4.7% | +19.5% |
| 1987 | 5.0% | +5.3% |
| 1988 | 5.0% | +0.8% |
| 1989 | 6.8% | +34.4% |
| 1990 | 6.3% | -6.3% |
| 1991 | 4.1% | -35.6% |
| 1992 | 4.1% | -0.1% |
| 1993 | 5.9% | +44.1% |
| 1994 | 0.7% | -88.6% |
| 1995 | 4.0% | +492.1% |
| 1996 | 4.7% | +19.4% |
| 1997 | 2.4% | -48.6% |
| 1998 | 2.6% | +5.1% |
| 2001 | -3.0% | -218.3% |
| 2002 | -7.9% | +161.6% |
| 2003 | -19.2% | +142.8% |
| 2004 | -20.0% | +4.1% |
| 2005 | -30.4% | +51.8% |
| 2006 | -40.1% | +32.3% |
| 2007 | -42.8% | +6.5% |
| 2008 | 11.1% | -125.8% |
| 2009 | 8.5% | -23.5% |
| 2010 | 5.1% | -39.4% |
| 2011 | 10.3% | +101.2% |
| 2012 | 4.5% | -56.3% |
| 2013 | 5.1% | +12.5% |
| 2014 | 1.1% | -78.2% |
| 2015 | 2.0% | +78.3% |
| 2016 | 1.2% | -41.0% |
| 2017 | 3.6% | +209.7% |
| 2018 | 2.9% | -18.6% |
| 2019 | 3.6% | +21.9% |
| 2020 | 3.7% | +2.6% |
| 2021 | 7.4% | +102.4% |
| 2022 | 3.5% | -53.0% |
| 2023 | 2.2% | -37.3% |
| 2024 | 2.1% | -4.1% |
Lao People's Democratic Republic compared with similar countries
- Lao People's Democratic Republic's 2.1% is below the median for lower middle income countries, which is 6.5%, 32% of the median. (47 countries reporting)
- Lao People's Democratic Republic's 2.1% is below the median for East Asia & Pacific, which is 5.2%, 40% of the median. (32 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Lao People's Democratic Republic 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 |
|---|---|---|---|
| 1985 | +660.0% | 0.5% | 4.0% |
| 1995 | +492.1% | 0.7% | 4.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 4.3% | 0.5% | 6.8% | 6 |
| 1990s | 3.9% | 0.7% | 6.3% | 9 |
| 2000s | -16.0% | -42.8% | 11.1% | 9 |
| 2010s | 3.9% | 1.1% | 10.3% | 10 |
| 2020s | 3.8% | 2.1% | 7.4% | 5 |
Countries ranked near Lao People's Democratic Republic
More private sector data for Lao People's Democratic Republic
- Merchandise trade 124.1% (2025)
- Food imports 12.7% (2023)
- Manufactures imports 61.7% (2023)
- Merchandise imports 10.34 billion current US$ (2025)
- Food exports 23.2% (2023)
- Manufactures exports 32.8% (2023)
- Merchandise exports 12.38 billion current US$ (2025)
- Merchandise exports (current US$), per capita 1,572 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.6762 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 31.87 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Lao People's Democratic Republic?
- Insurance and financial services in Lao People's Democratic Republic was 2.1% 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 Lao People's Democratic Republic?
- The highest recorded value was 11.1% in 2008.
- What is the lowest insurance and financial services recorded in Lao People's Democratic Republic?
- The lowest recorded value was -42.8% in 2007.
- How does Lao People's Democratic Republic rank for insurance and financial services?
- Lao People's Democratic Republic ranks 175th out of 197 countries with data for 2024.
- Is insurance and financial services rising or falling in Lao People's Democratic Republic?
- Over the last ten years it is up 89.8%. The long-run trend across the full record is volatile.
- Where does this Lao People's Democratic Republic 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.