Insurance and financial services in Pacific island small states
Pacific island small states: Insurance and financial services was 7.5% in 2024. ▼ Falling
Insurance and financial services in Pacific island small states, 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 Pacific island small states stood at 7.5%.
Compared with earlier readings it is up 10.2% on the previous year and up 17.3% over ten years.
Over the whole period, insurance and financial services in Pacific island small states peaked at 9.2% in 1986 and was at its lowest, 5.1%, in 2003.
That places Pacific island small states 30th out of 47 groups with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently falling across the 46 years of available data.
Insurance and financial services in Pacific island small states, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1979 | 7.5% | — |
| 1980 | 8.1% | +7.5% |
| 1981 | 6.4% | -21.1% |
| 1982 | 6.6% | +4.0% |
| 1983 | 6.9% | +4.2% |
| 1984 | 6.8% | -1.5% |
| 1985 | 7.5% | +10.0% |
| 1986 | 9.2% | +23.7% |
| 1987 | 8.5% | -7.6% |
| 1988 | 9.1% | +6.8% |
| 1989 | 7.9% | -13.5% |
| 1990 | 7.8% | -1.0% |
| 1991 | 7.0% | -10.6% |
| 1992 | 7.4% | +6.0% |
| 1993 | 8.1% | +9.7% |
| 1994 | 7.8% | -4.0% |
| 1995 | 7.0% | -10.2% |
| 1996 | 7.3% | +4.2% |
| 1997 | 6.3% | -13.9% |
| 1998 | 8.8% | +39.8% |
| 1999 | 6.4% | -27.1% |
| 2000 | 6.3% | -1.4% |
| 2001 | 8.8% | +39.1% |
| 2002 | 6.6% | -24.3% |
| 2003 | 5.1% | -23.5% |
| 2004 | 6.2% | +22.9% |
| 2005 | 5.3% | -15.6% |
| 2006 | 5.7% | +7.3% |
| 2007 | 5.8% | +2.4% |
| 2008 | 6.5% | +11.5% |
| 2009 | 5.4% | -16.4% |
| 2010 | 5.5% | +1.5% |
| 2011 | 5.6% | +2.7% |
| 2012 | 6.0% | +6.4% |
| 2013 | 6.7% | +12.3% |
| 2014 | 6.4% | -5.2% |
| 2015 | 6.0% | -5.6% |
| 2016 | 6.3% | +4.6% |
| 2017 | 6.2% | -1.2% |
| 2018 | 6.5% | +4.1% |
| 2019 | 5.9% | -8.8% |
| 2020 | 7.7% | +30.9% |
| 2021 | 8.3% | +7.2% |
| 2022 | 6.9% | -16.4% |
| 2023 | 6.8% | -1.9% |
| 2024 | 7.5% | +10.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 7.5% | 7.5% | 7.5% | 1 |
| 1980s | 7.7% | 6.4% | 9.2% | 10 |
| 1990s | 7.4% | 6.3% | 8.8% | 10 |
| 2000s | 6.2% | 5.1% | 8.8% | 10 |
| 2010s | 6.1% | 5.5% | 6.7% | 10 |
| 2020s | 7.4% | 6.8% | 8.3% | 5 |
Countries ranked near Pacific island small states
More private sector data for Pacific island small states
- Merchandise trade 66.2% (2025)
- Food imports 23.7% (2021)
- Manufactures imports 58.1% (2021)
- Merchandise imports 6.45 billion current US$ (2025)
- Food exports 47.5% (2018)
- Manufactures exports 16.2% (2018)
- Merchandise exports 2.15 billion current US$ (2025)
- Merchandise exports (current US$), per capita 781.41 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.1656 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 3.56 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Pacific island small states?
- Insurance and financial services in Pacific island small states 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 Pacific island small states?
- The highest recorded value was 9.2% in 1986.
- What is the lowest insurance and financial services recorded in Pacific island small states?
- The lowest recorded value was 5.1% in 2003.
- How does Pacific island small states rank for insurance and financial services?
- Pacific island small states ranks 30th out of 47 groups with data for 2024.
- Is insurance and financial services rising or falling in Pacific island small states?
- Over the last ten years it is up 17.3%. The long-run trend across the full record is falling.
- Where does this Pacific island small states 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 — 46 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.