Insurance and financial services in Middle East, North Africa, Afghanistan & Pakistan (excluding high income)
Middle East, North Africa, Afghanistan & Pakistan (excluding high income): Insurance and financial services was 9.5% in 2024. ▲ Rising
Insurance and financial services in Middle East, North Africa, Afghanistan & Pakistan (excluding high income), 1977–2024
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 Middle East, North Africa, Afghanistan & Pakistan (excluding high income) is 9.5%, measured in 2024.
That represents a change of down 4.2% on the previous year and down 8.3% over ten years.
Over the whole period, insurance and financial services in Middle East, North Africa, Afghanistan & Pakistan (excluding high income) peaked at 11.8% in 2020 and was at its lowest, 4.6%, in 1978.
That places Middle East, North Africa, Afghanistan & Pakistan (excluding high income) 11th out of 47 groups with data for 2024, putting it in the top quarter.
The long-run direction has been consistently rising across the 35 years of available data.
Insurance and financial services in Middle East, North Africa, Afghanistan & Pakistan (excluding high income), year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1977 | 4.9% | — |
| 1978 | 4.6% | -5.9% |
| 1979 | 4.9% | +5.4% |
| 1980 | 5.7% | +17.5% |
| 1981 | 5.6% | -2.2% |
| 1982 | 5.6% | +0.6% |
| 1983 | 5.6% | +0.4% |
| 1984 | 5.8% | +2.4% |
| 1985 | 5.5% | -4.5% |
| 1986 | 6.1% | +11.2% |
| 1987 | 6.5% | +6.6% |
| 1988 | 6.1% | -7.0% |
| 1989 | 6.0% | -1.7% |
| 1990 | 6.3% | +5.2% |
| 1991 | 6.8% | +9.1% |
| 2005 | 8.0% | +16.7% |
| 2006 | 8.3% | +3.7% |
| 2007 | 9.1% | +9.7% |
| 2008 | 9.5% | +4.5% |
| 2009 | 10.1% | +7.0% |
| 2010 | 10.4% | +2.5% |
| 2011 | 10.0% | -4.2% |
| 2012 | 10.6% | +6.5% |
| 2013 | 10.1% | -4.9% |
| 2014 | 10.3% | +2.3% |
| 2015 | 10.5% | +1.7% |
| 2016 | 9.7% | -7.9% |
| 2017 | 9.4% | -3.0% |
| 2018 | 9.2% | -1.6% |
| 2019 | 9.5% | +3.3% |
| 2020 | 11.8% | +24.1% |
| 2021 | 9.9% | -16.4% |
| 2022 | 9.1% | -8.4% |
| 2023 | 9.9% | +9.0% |
| 2024 | 9.5% | -4.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 4.8% | 4.6% | 4.9% | 3 |
| 1980s | 5.8% | 5.5% | 6.5% | 10 |
| 1990s | 6.6% | 6.3% | 6.8% | 2 |
| 2000s | 9.0% | 8.0% | 10.1% | 5 |
| 2010s | 10.0% | 9.2% | 10.6% | 10 |
| 2020s | 10.0% | 9.1% | 11.8% | 5 |
Countries ranked near Middle East, North Africa, Afghanistan & Pakistan (excluding high income)
- 8 Gambia 19.8% compare
- 9 Tajikistan 19.5% compare
- 10 Iraq 19.4% compare
- 11 Saint Kitts and Nevis 18.5% compare
- 12 Trinidad and Tobago 18.2% compare
- 13 Panama 17.8% compare
- 14 Bermuda 17.6% compare
More private sector data for Middle East, North Africa, Afghanistan & Pakistan (excluding high income)
- Merchandise trade 49.0% (2025)
- Food imports 18.8% (2019)
- Manufactures imports 57.7% (2019)
- Merchandise imports 582.51 billion current US$ (2025)
- Food exports 10.4% (2017)
- Manufactures exports 37.1% (2017)
- Merchandise exports 468.21 billion current US$ (2025)
- Merchandise exports (current US$), per capita 621.05 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.2195 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 1.11 % change on previous year (2025)
All data for Middle East, North Africa, Afghanistan & Pakistan (excluding high income) →
Frequently asked questions
- What is insurance and financial services in Middle East, North Africa, Afghanistan & Pakistan (excluding high income)?
- Insurance and financial services in Middle East, North Africa, Afghanistan & Pakistan (excluding high income) was 9.5% 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 Middle East, North Africa, Afghanistan & Pakistan (excluding high income)?
- The highest recorded value was 11.8% in 2020.
- What is the lowest insurance and financial services recorded in Middle East, North Africa, Afghanistan & Pakistan (excluding high income)?
- The lowest recorded value was 4.6% in 1978.
- How does Middle East, North Africa, Afghanistan & Pakistan (excluding high income) rank for insurance and financial services?
- Middle East, North Africa, Afghanistan & Pakistan (excluding high income) ranks 11th out of 47 groups with data for 2024.
- Is insurance and financial services rising or falling in Middle East, North Africa, Afghanistan & Pakistan (excluding high income)?
- Over the last ten years it is down 8.3%. The long-run trend across the full record is rising.
- Where does this Middle East, North Africa, Afghanistan & Pakistan (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.
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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.