Insurance and financial services in Rwanda
Rwanda: Insurance and financial services was 3.9% in 2024. ◆ Volatile
Insurance and financial services in Rwanda, 2010–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service imports.
Analysis
Rwanda recorded 3.9% for insurance and financial services in 2024.
That represents a change of down 7.2% on the previous year and up 227.9% over ten years.
Over the whole period, insurance and financial services in Rwanda peaked at 7.8% in 2021 and was at its lowest, 0.6%, in 2011.
Rwanda ranks 137th of 197 countries on this measure, 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 Rwanda, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 2010 | 0.7% | — |
| 2011 | 0.6% | -19.2% |
| 2012 | 1.1% | +78.7% |
| 2013 | 1.3% | +21.1% |
| 2014 | 1.2% | -7.0% |
| 2015 | 1.1% | -8.1% |
| 2016 | 1.2% | +10.6% |
| 2017 | 1.5% | +23.9% |
| 2018 | 1.6% | +2.9% |
| 2019 | 1.6% | +4.4% |
| 2020 | 3.0% | +84.9% |
| 2021 | 7.8% | +159.7% |
| 2022 | 2.1% | -73.6% |
| 2023 | 4.2% | +105.6% |
| 2024 | 3.9% | -7.2% |
Rwanda compared with similar countries
- Rwanda's 3.9% is below the median for low income countries, which is 4.2%, 94% of the median. (22 countries reporting)
- Rwanda's 3.9% is below the median for Sub-Saharan Africa, which is 6.5%, 60% of the median. (45 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Rwanda 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 |
|---|---|---|---|
| 2021 | +159.7% | 3.0% | 7.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 1.2% | 0.6% | 1.6% | 10 |
| 2020s | 4.2% | 2.1% | 7.8% | 5 |
Countries ranked near Rwanda
- 134 Venezuela, Bolivarian Republic of 4.0% compare
- 135 Côte d'Ivoire 4.0% compare
- 136 Syrian Arab Republic 3.9%
- 138 Guinea-Bissau 3.9% compare
- 139 Sudan 3.9% compare
- 140 Belarus 3.8% compare
More private sector data for Rwanda
- Merchandise trade 45.9% (2025)
- Food imports 22.4% (2022)
- Manufactures imports 50.0% (2022)
- Merchandise imports 5.07 billion current US$ (2025)
- Food exports 27.2% (2022)
- Manufactures exports 10.4% (2022)
- Merchandise exports 2.45 billion current US$ (2025)
- Merchandise exports (current US$), per capita 168.16 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.1496 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate -23.46 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Rwanda?
- Insurance and financial services in Rwanda was 3.9% 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 Rwanda?
- The highest recorded value was 7.8% in 2021.
- What is the lowest insurance and financial services recorded in Rwanda?
- The lowest recorded value was 0.6% in 2011.
- How does Rwanda rank for insurance and financial services?
- Rwanda ranks 137th out of 197 countries with data for 2024.
- Is insurance and financial services rising or falling in Rwanda?
- Over the last ten years it is up 227.9%. The long-run trend across the full record is volatile.
- Where does this Rwanda 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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CSV · JSON — 15 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.