Insurance and financial services (% of commercial service imports) in Madagascar
Madagascar: Insurance and financial services (% of commercial service imports) was 1.3% in 2025. ◆ Volatile
Insurance and financial services in Madagascar, 1974–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service imports.
Analysis
In 2025, insurance and financial services in Madagascar stood at 1.3%.
Compared with earlier readings it is down 10.4% on the previous year and up 90.6% over ten years.
Over the whole period, insurance and financial services in Madagascar peaked at 5.8% in 1979 and was at its lowest, 0.2%, in 2008.
Madagascar ranks 190th 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 (% of commercial service imports) in Madagascar, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1974 | 4.1% | — |
| 1975 | 4.6% | +14.4% |
| 1976 | 3.9% | -15.8% |
| 1977 | 5.4% | +39.1% |
| 1978 | 5.3% | -2.7% |
| 1979 | 5.8% | +10.1% |
| 1980 | 5.7% | -1.8% |
| 1981 | 4.5% | -21.0% |
| 1982 | 4.9% | +8.6% |
| 1983 | 4.3% | -11.4% |
| 1984 | 3.6% | -17.8% |
| 1985 | 3.6% | +2.2% |
| 1986 | 3.6% | -1.5% |
| 1987 | 3.6% | +1.3% |
| 1988 | 3.5% | -3.3% |
| 1989 | 2.5% | -28.4% |
| 1990 | 3.5% | +40.2% |
| 1991 | 3.2% | -8.1% |
| 1992 | 2.6% | -20.3% |
| 1993 | 3.1% | +21.3% |
| 1994 | 1.9% | -38.4% |
| 1995 | 2.7% | +41.5% |
| 1996 | 1.0% | -65.2% |
| 1997 | 2.5% | +165.6% |
| 1998 | 1.8% | -30.4% |
| 1999 | 1.8% | +5.3% |
| 2000 | 1.6% | -14.8% |
| 2001 | 1.3% | -17.8% |
| 2002 | 1.5% | +19.2% |
| 2003 | 3.1% | +98.3% |
| 2004 | 2.4% | -21.8% |
| 2005 | 1.3% | -46.8% |
| 2006 | 0.5% | -57.6% |
| 2007 | 0.3% | -48.0% |
| 2008 | 0.2% | -26.1% |
| 2009 | 0.4% | +82.5% |
| 2010 | 0.3% | -30.3% |
| 2011 | 0.3% | +19.4% |
| 2012 | 0.3% | +7.5% |
| 2013 | 0.7% | +93.4% |
| 2014 | 0.5% | -19.7% |
| 2015 | 0.7% | +25.7% |
| 2016 | 0.6% | -3.2% |
| 2017 | 1.7% | +159.4% |
| 2018 | 1.9% | +17.5% |
| 2019 | 2.4% | +25.7% |
| 2020 | 2.8% | +13.7% |
| 2021 | 2.3% | -18.5% |
| 2022 | 1.8% | -21.2% |
| 2023 | 1.9% | +7.1% |
| 2024 | 1.4% | -26.7% |
| 2025 | 1.3% | -10.4% |
Madagascar compared with similar countries
- Madagascar's 1.3% is below the median for low income countries, which is 4.4%, 28% of the median. (22 countries reporting)
- Madagascar's 1.3% is below the median for Sub-Saharan Africa, which is 4.9%, 26% of the median. (45 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services (% of commercial service imports) in Madagascar 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 |
|---|---|---|---|
| 1997 | +165.6% | 1.0% | 2.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 4.9% | 3.9% | 5.8% | 6 |
| 1980s | 4.0% | 2.5% | 5.7% | 10 |
| 1990s | 2.4% | 1.0% | 3.5% | 10 |
| 2000s | 1.3% | 0.2% | 3.1% | 10 |
| 2010s | 0.9% | 0.3% | 2.4% | 10 |
| 2020s | 1.9% | 1.3% | 2.8% | 6 |
Countries ranked near Madagascar
More private sector data for Madagascar
- Merchandise trade 39.4% (2025)
- Food imports 18.4% (2024)
- Manufactures imports 58.9% (2024)
- Merchandise imports 5.24 billion current US$ (2025)
- Commercial service imports 1.44 billion current US$ (2025)
- Food exports 30.5% (2024)
- Manufactures exports 32.3% (2024)
- Merchandise exports 2.50 billion current US$ (2025)
- Commercial service exports 1.64 billion current US$ (2025)
- Merchandise exports (current US$), per capita 76.3 current US$ per person (2025)
Frequently asked questions
- What is insurance and financial services in Madagascar?
- Insurance and financial services in Madagascar was 1.3% 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 Madagascar?
- The highest recorded value was 5.8% in 1979.
- What is the lowest insurance and financial services recorded in Madagascar?
- The lowest recorded value was 0.2% in 2008.
- How does Madagascar rank for insurance and financial services?
- Madagascar ranks 190th out of 197 countries with data for 2025.
- Is insurance and financial services rising or falling in Madagascar?
- Over the last ten years it is up 90.6%. The long-run trend across the full record is volatile.
- Where does this Madagascar 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.