Insurance and financial services in Seychelles
Seychelles: Insurance and financial services was 3.1% in 2024. ◆ Volatile
Insurance and financial services in Seychelles, 1976–2024
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 Seychelles is 3.1%, measured in 2024.
The figure is up 4.8% on the previous year and up 60.6% over ten years.
Over the whole period, insurance and financial services in Seychelles peaked at 12.2% in 1997 and was at its lowest, 1.4%, in 2017.
Seychelles ranks 154th 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 in Seychelles, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1976 | 5.9% | — |
| 1977 | 3.7% | -36.9% |
| 1978 | 3.9% | +4.2% |
| 1979 | 4.1% | +5.2% |
| 1980 | 4.3% | +5.4% |
| 1981 | 3.9% | -8.7% |
| 1982 | 4.2% | +8.9% |
| 1983 | 4.0% | -6.2% |
| 1984 | 3.4% | -15.9% |
| 1985 | 2.8% | -15.8% |
| 1986 | 2.4% | -14.0% |
| 1987 | 2.2% | -9.6% |
| 1988 | 3.3% | +50.8% |
| 1989 | 7.8% | +136.6% |
| 1990 | 7.1% | -8.9% |
| 1991 | 8.7% | +22.3% |
| 1992 | 8.1% | -6.9% |
| 1993 | 8.8% | +7.8% |
| 1994 | 8.2% | -6.6% |
| 1995 | 8.5% | +4.2% |
| 1996 | 8.6% | +0.5% |
| 1997 | 12.2% | +42.1% |
| 1998 | 10.4% | -14.6% |
| 1999 | 3.0% | -71.3% |
| 2000 | 6.9% | +131.6% |
| 2001 | 7.9% | +14.2% |
| 2002 | 8.2% | +3.7% |
| 2003 | 7.7% | -6.4% |
| 2004 | 8.3% | +7.8% |
| 2005 | 8.6% | +3.5% |
| 2006 | 9.3% | +8.2% |
| 2007 | 5.4% | -41.1% |
| 2008 | 5.0% | -8.7% |
| 2009 | 4.9% | -1.3% |
| 2010 | 5.3% | +8.0% |
| 2011 | 2.1% | -60.0% |
| 2012 | 1.5% | -28.6% |
| 2013 | 2.1% | +37.4% |
| 2014 | 1.9% | -7.5% |
| 2015 | 2.0% | +4.0% |
| 2016 | 1.6% | -22.3% |
| 2017 | 1.4% | -9.2% |
| 2018 | 1.6% | +16.3% |
| 2019 | 2.1% | +28.8% |
| 2020 | 3.3% | +55.5% |
| 2021 | 2.5% | -22.7% |
| 2022 | 2.9% | +14.3% |
| 2023 | 2.9% | +1.5% |
| 2024 | 3.1% | +4.8% |
Seychelles compared with similar countries
- Seychelles's 3.1% is below the median for high income countries, which is 6.4%, 49% of the median. (72 countries reporting)
- Seychelles's 3.1% is below the median for Sub-Saharan Africa, which is 6.5%, 47% of the median. (45 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Seychelles 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 |
|---|---|---|---|
| 1989 | +136.6% | 3.3% | 7.8% |
| 2000 | +131.6% | 3.0% | 6.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 4.4% | 3.7% | 5.9% | 4 |
| 1980s | 3.8% | 2.2% | 7.8% | 10 |
| 1990s | 8.4% | 3.0% | 12.2% | 10 |
| 2000s | 7.2% | 4.9% | 9.3% | 10 |
| 2010s | 2.2% | 1.4% | 5.3% | 10 |
| 2020s | 3.0% | 2.5% | 3.3% | 5 |
Countries ranked near Seychelles
More private sector data for Seychelles
- Merchandise trade 86.7% (2025)
- Food imports 26.1% (2024)
- Manufactures imports 51.8% (2024)
- Merchandise imports 1.52 billion current US$ (2025)
- Food exports 85.9% (2024)
- Manufactures exports 0.3% (2024)
- Merchandise exports 550.00 million current US$ (2025)
- Merchandise exports (current US$), per capita 4,481 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.2304 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate -1.26 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Seychelles?
- Insurance and financial services in Seychelles was 3.1% 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 Seychelles?
- The highest recorded value was 12.2% in 1997.
- What is the lowest insurance and financial services recorded in Seychelles?
- The lowest recorded value was 1.4% in 2017.
- How does Seychelles rank for insurance and financial services?
- Seychelles ranks 154th out of 197 countries with data for 2024.
- Is insurance and financial services rising or falling in Seychelles?
- Over the last ten years it is up 60.6%. The long-run trend across the full record is volatile.
- Where does this Seychelles 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.