Insurance and financial services in Middle East, North Africa, Afghanistan & Pakistan (IDA & IBRD)
Middle East, North Africa, Afghanistan & Pakistan (IDA & IBRD): Insurance and financial services was 9.6% in 2024. ▲ Rising
Insurance and financial services in Middle East, North Africa, Afghanistan & Pakistan (IDA & IBRD), 1977–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service imports.
Analysis
Middle East, North Africa, Afghanistan & Pakistan (IDA & IBRD) recorded 9.6% for insurance and financial services in 2024.
The figure is down 4.4% on the previous year and down 8.8% over ten years.
Over the whole period, insurance and financial services in Middle East, North Africa, Afghanistan & Pakistan (IDA & IBRD) peaked at 12.0% in 2020 and was at its lowest, 4.6%, in 1978.
Middle East, North Africa, Afghanistan & Pakistan (IDA & IBRD) ranks 10th of 47 groups on this measure, 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 (IDA & IBRD), 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 | 8.1% | +18.5% |
| 2006 | 8.4% | +3.7% |
| 2007 | 9.2% | +9.7% |
| 2008 | 9.6% | +4.6% |
| 2009 | 10.3% | +7.0% |
| 2010 | 10.6% | +2.4% |
| 2011 | 10.1% | -4.2% |
| 2012 | 10.8% | +6.5% |
| 2013 | 10.2% | -4.9% |
| 2014 | 10.5% | +2.2% |
| 2015 | 10.6% | +1.5% |
| 2016 | 9.8% | -7.8% |
| 2017 | 9.5% | -3.0% |
| 2018 | 9.3% | -2.0% |
| 2019 | 9.7% | +4.0% |
| 2020 | 12.0% | +24.2% |
| 2021 | 10.0% | -16.4% |
| 2022 | 9.2% | -8.4% |
| 2023 | 10.0% | +8.6% |
| 2024 | 9.6% | -4.4% |
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 | 9.1% | 8.1% | 10.3% | 5 |
| 2010s | 10.1% | 9.3% | 10.8% | 10 |
| 2020s | 10.2% | 9.2% | 12.0% | 5 |
Countries ranked near Middle East, North Africa, Afghanistan & Pakistan (IDA & IBRD)
- 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
- 12 Trinidad and Tobago 18.2% compare
- 13 Panama 17.8% compare
More private sector data for Middle East, North Africa, Afghanistan & Pakistan (IDA & IBRD)
- Merchandise trade 49.0% (2025)
- Food imports 18.5% (2019)
- Manufactures imports 57.9% (2019)
- Merchandise imports 572.64 billion current US$ (2025)
- Food exports 10.2% (2017)
- Manufactures exports 36.9% (2017)
- Merchandise exports 464.75 billion current US$ (2025)
- Merchandise exports (current US$), per capita 620.91 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.2197 current US$ 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 (IDA & IBRD) →
Frequently asked questions
- What is insurance and financial services in Middle East, North Africa, Afghanistan & Pakistan (IDA & IBRD)?
- Insurance and financial services in Middle East, North Africa, Afghanistan & Pakistan (IDA & IBRD) was 9.6% 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 (IDA & IBRD)?
- The highest recorded value was 12.0% in 2020.
- What is the lowest insurance and financial services recorded in Middle East, North Africa, Afghanistan & Pakistan (IDA & IBRD)?
- The lowest recorded value was 4.6% in 1978.
- How does Middle East, North Africa, Afghanistan & Pakistan (IDA & IBRD) rank for insurance and financial services?
- Middle East, North Africa, Afghanistan & Pakistan (IDA & IBRD) ranks 10th out of 47 groups with data for 2024.
- Is insurance and financial services rising or falling in Middle East, North Africa, Afghanistan & Pakistan (IDA & IBRD)?
- Over the last ten years it is down 8.8%. The long-run trend across the full record is rising.
- Where does this Middle East, North Africa, Afghanistan & Pakistan (IDA & IBRD) 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.