Insurance and financial services in Latin America & Caribbean (excluding high income)
Latin America & Caribbean (excluding high income): Insurance and financial services was 11.0% in 2025. ▲ Rising
Insurance and financial services in Latin America & Caribbean (excluding high income), 1979–2025
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 Latin America & Caribbean (excluding high income) is 11.0%, measured in 2025.
Compared with earlier readings it is down 9.0% on the previous year and down 4.6% over ten years.
Over the whole period, insurance and financial services in Latin America & Caribbean (excluding high income) peaked at 23.3% in 1997 and was at its lowest, 5.8%, in 1992.
Latin America & Caribbean (excluding high income) ranks 8th of 47 groups on this measure, in the top quarter.
The long-run direction has been consistently rising across the 47 years of available data.
Insurance and financial services in Latin America & Caribbean (excluding high income), year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1979 | 6.7% | — |
| 1980 | 7.0% | +5.0% |
| 1981 | 7.2% | +2.3% |
| 1982 | 7.7% | +7.4% |
| 1983 | 8.0% | +3.7% |
| 1984 | 8.7% | +9.3% |
| 1985 | 7.8% | -10.2% |
| 1986 | 7.5% | -3.7% |
| 1987 | 8.5% | +12.6% |
| 1988 | 8.0% | -5.4% |
| 1989 | 7.2% | -10.1% |
| 1990 | 6.3% | -12.5% |
| 1991 | 6.2% | -1.8% |
| 1992 | 5.8% | -6.1% |
| 1993 | 8.8% | +51.1% |
| 1994 | 8.3% | -6.0% |
| 1995 | 10.4% | +25.8% |
| 1996 | 22.0% | +111.0% |
| 1997 | 23.3% | +5.9% |
| 1998 | 8.8% | -62.2% |
| 1999 | 9.1% | +3.6% |
| 2000 | 10.3% | +12.9% |
| 2001 | 11.4% | +10.3% |
| 2002 | 12.3% | +7.9% |
| 2003 | 12.8% | +4.2% |
| 2004 | 11.6% | -9.5% |
| 2005 | 11.1% | -4.3% |
| 2006 | 10.6% | -4.0% |
| 2007 | 11.5% | +7.9% |
| 2008 | 10.8% | -5.4% |
| 2009 | 12.9% | +18.7% |
| 2010 | 11.5% | -10.9% |
| 2011 | 12.5% | +9.2% |
| 2012 | 11.8% | -6.0% |
| 2013 | 12.5% | +6.6% |
| 2014 | 11.3% | -10.1% |
| 2015 | 11.5% | +2.2% |
| 2016 | 10.9% | -5.2% |
| 2017 | 11.5% | +4.8% |
| 2018 | 11.7% | +1.9% |
| 2019 | 13.1% | +12.1% |
| 2020 | 16.1% | +23.2% |
| 2021 | 13.4% | -16.8% |
| 2022 | 10.8% | -19.2% |
| 2023 | 11.6% | +7.0% |
| 2024 | 12.1% | +4.3% |
| 2025 | 11.0% | -9.0% |
Biggest year-on-year movements
Years where Insurance and financial services in Latin America & Caribbean (excluding high income) 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 |
|---|---|---|---|
| 1996 | +111.0% | 10.4% | 22.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 6.7% | 6.7% | 6.7% | 1 |
| 1980s | 7.8% | 7.0% | 8.7% | 10 |
| 1990s | 10.9% | 5.8% | 23.3% | 10 |
| 2000s | 11.5% | 10.3% | 12.9% | 10 |
| 2010s | 11.8% | 10.9% | 13.1% | 10 |
| 2020s | 12.5% | 10.8% | 16.1% | 6 |
Countries ranked near Latin America & Caribbean (excluding high income)
- 5 Macao 22.1% compare
- 6 United States 20.3% compare
- 7 Democratic Republic of Congo 20.0% compare
- 8 Gambia 19.8% compare
- 9 Tajikistan 19.5% compare
- 10 Iraq 19.4% compare
- 11 Saint Kitts and Nevis 18.5% compare
More private sector data for Latin America & Caribbean (excluding high income)
- Merchandise trade 43.4% (2025)
- Food imports 8.3% (2024)
- Manufactures imports 74.3% (2024)
- Merchandise imports 1.40 trillion current US$ (2025)
- Food exports 19.4% (2025)
- Manufactures exports 61.3% (2025)
- Merchandise exports 1.37 trillion current US$ (2025)
- Merchandise exports (current US$), per capita 2,178 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.2093 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 6.06 % change on previous year (2025)
All data for Latin America & Caribbean (excluding high income) →
Frequently asked questions
- What is insurance and financial services in Latin America & Caribbean (excluding high income)?
- Insurance and financial services in Latin America & Caribbean (excluding high income) was 11.0% 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 Latin America & Caribbean (excluding high income)?
- The highest recorded value was 23.3% in 1997.
- What is the lowest insurance and financial services recorded in Latin America & Caribbean (excluding high income)?
- The lowest recorded value was 5.8% in 1992.
- How does Latin America & Caribbean (excluding high income) rank for insurance and financial services?
- Latin America & Caribbean (excluding high income) ranks 8th out of 47 groups with data for 2025.
- Is insurance and financial services rising or falling in Latin America & Caribbean (excluding high income)?
- Over the last ten years it is down 4.6%. The long-run trend across the full record is rising.
- Where does this Latin America & Caribbean (excluding high income) 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 — 47 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.