Insurance and financial services in Tanzania, United Republic of
Tanzania, United Republic of: Insurance and financial services was 8.1% in 2024. ▼ Falling
Insurance and financial services in Tanzania, United Republic of, 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 Tanzania, United Republic of is 8.1%, measured in 2024. That is the highest value across all 49 years on record.
That represents a change of up 4.2% on the previous year and up 297.3% over ten years.
Over the whole period, insurance and financial services in Tanzania, United Republic of peaked at 8.1% in 2024 and was at its lowest, 1.5%, in 2016.
Tanzania, United Republic of ranks 72nd of 197 countries on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 49 years of available data.
Insurance and financial services in Tanzania, United Republic of, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1976 | 5.7% | — |
| 1977 | 5.9% | +4.5% |
| 1978 | 6.2% | +5.7% |
| 1979 | 6.0% | -3.4% |
| 1980 | 5.5% | -8.7% |
| 1981 | 6.3% | +14.1% |
| 1982 | 7.4% | +17.1% |
| 1983 | 6.6% | -11.1% |
| 1984 | 6.5% | -0.9% |
| 1985 | 6.2% | -4.3% |
| 1986 | 6.2% | +0.2% |
| 1987 | 6.7% | +6.9% |
| 1988 | 5.9% | -12.1% |
| 1989 | 5.9% | +0.2% |
| 1990 | 6.2% | +4.9% |
| 1991 | 6.1% | -0.6% |
| 1992 | 5.8% | -4.5% |
| 1993 | 3.2% | -44.7% |
| 1994 | 4.5% | +38.0% |
| 1995 | 2.7% | -38.4% |
| 1996 | 3.8% | +38.5% |
| 1997 | 3.0% | -21.2% |
| 1998 | 5.0% | +66.1% |
| 1999 | 2.3% | -54.2% |
| 2000 | 3.5% | +52.8% |
| 2001 | 3.6% | +2.8% |
| 2002 | 5.2% | +45.9% |
| 2003 | 6.1% | +16.2% |
| 2004 | 4.7% | -23.4% |
| 2005 | 4.3% | -7.5% |
| 2006 | 4.6% | +7.8% |
| 2007 | 5.0% | +7.8% |
| 2008 | 4.1% | -17.6% |
| 2009 | 3.8% | -6.9% |
| 2010 | 3.9% | +3.0% |
| 2011 | 3.6% | -7.9% |
| 2012 | 3.4% | -6.7% |
| 2013 | 2.4% | -28.9% |
| 2014 | 2.0% | -15.9% |
| 2015 | 2.2% | +8.3% |
| 2016 | 1.5% | -31.7% |
| 2017 | 2.6% | +75.4% |
| 2018 | 4.3% | +63.2% |
| 2019 | 4.8% | +11.8% |
| 2020 | 6.0% | +23.9% |
| 2021 | 5.4% | -9.9% |
| 2022 | 6.2% | +14.7% |
| 2023 | 7.7% | +25.6% |
| 2024 | 8.1% | +4.2% |
Tanzania, United Republic of compared with similar countries
- Tanzania, United Republic of's 8.1% is above the median for lower middle income countries, which is 6.5%, 1.2× the median. (47 countries reporting)
- Tanzania, United Republic of's 8.1% is above the median for Sub-Saharan Africa, which is 6.5%, 1.2× the median. (45 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 6.0% | 5.7% | 6.2% | 4 |
| 1980s | 6.3% | 5.5% | 7.4% | 10 |
| 1990s | 4.3% | 2.3% | 6.2% | 10 |
| 2000s | 4.5% | 3.5% | 6.1% | 10 |
| 2010s | 3.1% | 1.5% | 4.8% | 10 |
| 2020s | 6.7% | 5.4% | 8.1% | 5 |
Countries ranked near Tanzania, United Republic of
More private sector data for Tanzania, United Republic of
- Merchandise trade 27.5% (2025)
- Food imports 9.2% (2024)
- Manufactures imports 68.3% (2024)
- Merchandise imports 14.81 billion current US$ (2025)
- Food exports 37.4% (2024)
- Manufactures exports 10.8% (2024)
- Merchandise exports 9.96 billion current US$ (2025)
- Merchandise exports (current US$), per capita 141.13 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.1104 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 14.41 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Tanzania, United Republic of?
- Insurance and financial services in Tanzania, United Republic of was 8.1% 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 Tanzania, United Republic of?
- The highest recorded value was 8.1% in 2024.
- What is the lowest insurance and financial services recorded in Tanzania, United Republic of?
- The lowest recorded value was 1.5% in 2016.
- How does Tanzania, United Republic of rank for insurance and financial services?
- Tanzania, United Republic of ranks 72nd out of 197 countries with data for 2024.
- Is insurance and financial services rising or falling in Tanzania, United Republic of?
- Over the last ten years it is up 297.3%. The long-run trend across the full record is falling.
- Where does this Tanzania, United Republic of 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
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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.