Insurance and financial services (% of commercial service imports) in Least developed countries
Least developed countries: Insurance and financial services (% of commercial service imports) was 7.5% in 2024. ▲ Rising
Insurance and financial services in Least developed countries, 1983–2024
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 Least developed countries is 7.5%, measured in 2024.
Compared with earlier readings it is up 8.8% on the previous year and up 12.6% over ten years.
Over the whole period, insurance and financial services in Least developed countries peaked at 8.0% in 2018 and was at its lowest, 3.9%, in 1995.
That places Least developed countries 27th out of 47 groups with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently rising across the 38 years of available data.
Insurance and financial services (% of commercial service imports) in Least developed countries, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1983 | 5.4% | — |
| 1984 | 5.4% | +0.1% |
| 1985 | 5.7% | +5.3% |
| 1986 | 5.8% | +1.2% |
| 1987 | 5.0% | -13.7% |
| 1988 | 5.4% | +7.7% |
| 1989 | 5.3% | -1.3% |
| 1990 | 4.9% | -8.2% |
| 1991 | 4.8% | -2.1% |
| 1992 | 5.7% | +19.7% |
| 1993 | 4.5% | -21.6% |
| 1994 | 4.6% | +3.1% |
| 1995 | 3.9% | -14.8% |
| 1997 | 5.0% | +26.9% |
| 1998 | 5.2% | +3.2% |
| 2002 | 5.5% | +6.5% |
| 2003 | 5.6% | +2.5% |
| 2004 | 5.3% | -6.6% |
| 2005 | 5.4% | +3.5% |
| 2006 | 5.5% | +1.8% |
| 2007 | 4.7% | -15.5% |
| 2008 | 5.5% | +17.3% |
| 2009 | 4.9% | -10.4% |
| 2010 | 5.2% | +5.1% |
| 2011 | 4.9% | -6.0% |
| 2012 | 5.9% | +21.6% |
| 2013 | 6.3% | +6.0% |
| 2014 | 6.7% | +6.6% |
| 2015 | 5.7% | -15.0% |
| 2016 | 6.6% | +16.3% |
| 2017 | 7.6% | +15.0% |
| 2018 | 8.0% | +5.4% |
| 2019 | 7.2% | -10.6% |
| 2020 | 7.2% | +1.0% |
| 2021 | 7.3% | +1.3% |
| 2022 | 6.6% | -10.4% |
| 2023 | 6.9% | +5.4% |
| 2024 | 7.5% | +8.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 5.4% | 5.0% | 5.8% | 7 |
| 1990s | 4.8% | 3.9% | 5.7% | 8 |
| 2000s | 5.3% | 4.7% | 5.6% | 8 |
| 2010s | 6.4% | 4.9% | 8.0% | 10 |
| 2020s | 7.1% | 6.6% | 7.5% | 5 |
Countries ranked near Least developed countries
More private sector data for Least developed countries
- Merchandise trade 41.4% (2025)
- Food imports 15.6% (2019)
- Manufactures imports 62.6% (2019)
- Merchandise imports 376.94 billion current US$ (2025)
- Commercial service imports 83.48 billion current US$ (2024)
- Food exports 15.7% (2023)
- Manufactures exports 19.9% (2023)
- Merchandise exports 311.48 billion current US$ (2025)
- Commercial service exports 54.31 billion current US$ (2024)
- Merchandise exports (current US$), per capita 256.54 current US$ per person (2025)
Frequently asked questions
- What is insurance and financial services in Least developed countries?
- Insurance and financial services in Least developed countries was 7.5% 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 Least developed countries?
- The highest recorded value was 8.0% in 2018.
- What is the lowest insurance and financial services recorded in Least developed countries?
- The lowest recorded value was 3.9% in 1995.
- How does Least developed countries rank for insurance and financial services?
- Least developed countries ranks 27th out of 47 groups with data for 2024.
- Is insurance and financial services rising or falling in Least developed countries?
- Over the last ten years it is up 12.6%. The long-run trend across the full record is rising.
- Where does this Least developed countries 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 — 38 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.