Insurance and financial services in Liberia
Liberia: Insurance and financial services was 9.2% in 2024. ◆ Volatile
Insurance and financial services in Liberia, 1979–2024
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 Liberia stood at 9.2%.
The figure is up 4.6% on the previous year and up 29.6% over ten years.
Over the whole period, insurance and financial services in Liberia peaked at 32.9% in 2018 and was at its lowest, 2.2%, in 2006.
That places Liberia 60th out of 197 countries with data for 2024, putting it 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 in Liberia, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1979 | 10.0% | — |
| 1980 | 10.0% | +0.0% |
| 1981 | 10.0% | +0.0% |
| 1982 | 5.8% | -42.3% |
| 1983 | 4.9% | -15.0% |
| 1984 | 5.2% | +6.3% |
| 1985 | 5.1% | -2.1% |
| 1986 | 5.1% | -0.8% |
| 1987 | 5.6% | +9.8% |
| 2004 | 3.4% | -38.1% |
| 2005 | 3.5% | +2.8% |
| 2006 | 2.2% | -37.6% |
| 2007 | 2.4% | +9.0% |
| 2008 | 3.1% | +28.7% |
| 2009 | 2.3% | -24.4% |
| 2010 | 5.4% | +132.2% |
| 2011 | 6.0% | +10.7% |
| 2012 | 6.1% | +2.3% |
| 2013 | 5.0% | -19.3% |
| 2014 | 7.1% | +43.0% |
| 2015 | 12.7% | +78.9% |
| 2016 | 17.9% | +40.6% |
| 2017 | 16.5% | -7.4% |
| 2018 | 32.9% | +98.9% |
| 2019 | 16.7% | -49.1% |
| 2020 | 7.2% | -57.1% |
| 2021 | 5.3% | -26.8% |
| 2022 | 8.0% | +51.8% |
| 2023 | 8.8% | +10.1% |
| 2024 | 9.2% | +4.6% |
Liberia compared with similar countries
- Liberia's 9.2% is above the median for low income countries, which is 4.2%, 2.2× the median. (22 countries reporting)
- Liberia's 9.2% is above the median for Sub-Saharan Africa, which is 6.5%, 1.4× the median. (45 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 10.0% | 10.0% | 10.0% | 1 |
| 1980s | 6.4% | 4.9% | 10.0% | 8 |
| 2000s | 2.8% | 2.2% | 3.5% | 6 |
| 2010s | 12.6% | 5.0% | 32.9% | 10 |
| 2020s | 7.7% | 5.3% | 9.2% | 5 |
Countries ranked near Liberia
More private sector data for Liberia
- Merchandise trade 87.0% (2025)
- Food imports 23.1% (2023)
- Manufactures imports 42.8% (2023)
- Merchandise imports 2.49 billion current US$ (2025)
- Food exports 24.5% (2023)
- Manufactures exports 9.9% (2023)
- Merchandise exports 2.07 billion current US$ (2025)
- Merchandise exports (current US$), per capita 360.83 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.3942 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 57.86 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Liberia?
- Insurance and financial services in Liberia was 9.2% 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 Liberia?
- The highest recorded value was 32.9% in 2018.
- What is the lowest insurance and financial services recorded in Liberia?
- The lowest recorded value was 2.2% in 2006.
- How does Liberia rank for insurance and financial services?
- Liberia ranks 60th out of 197 countries with data for 2024.
- Is insurance and financial services rising or falling in Liberia?
- Over the last ten years it is up 29.6%. The long-run trend across the full record is volatile.
- Where does this Liberia 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.