Insurance and financial services in Türkiye
Türkiye: Insurance and financial services was 8.9% in 2024. ▲ Rising
Insurance and financial services in Türkiye, 1974–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service imports.
Analysis
Türkiye recorded 8.9% for insurance and financial services in 2024.
Compared with earlier readings it is down 0.2% on the previous year and down 42.3% over ten years.
Over the whole period, insurance and financial services in Türkiye peaked at 18.0% in 2002 and was at its lowest, 1.8%, in 1983.
Türkiye ranks 63rd of 197 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 43 years of available data.
Insurance and financial services in Türkiye, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1974 | 3.6% | — |
| 1975 | 3.8% | +5.1% |
| 1976 | 3.5% | -7.5% |
| 1977 | 2.8% | -20.9% |
| 1978 | 5.7% | +104.2% |
| 1979 | 5.2% | -9.0% |
| 1980 | 5.1% | -2.0% |
| 1981 | 4.8% | -5.0% |
| 1982 | 2.3% | -52.3% |
| 1983 | 1.8% | -20.0% |
| 1992 | 9.6% | +422.6% |
| 1993 | 10.4% | +8.3% |
| 1994 | 9.4% | -9.8% |
| 1995 | 8.4% | -10.6% |
| 1996 | 8.5% | +1.1% |
| 1997 | 8.0% | -6.5% |
| 1998 | 9.4% | +18.2% |
| 1999 | 10.4% | +10.6% |
| 2000 | 13.3% | +27.6% |
| 2001 | 17.8% | +34.1% |
| 2002 | 18.0% | +1.1% |
| 2003 | 14.6% | -19.0% |
| 2004 | 13.0% | -11.2% |
| 2005 | 11.9% | -8.4% |
| 2006 | 15.0% | +26.2% |
| 2007 | 14.4% | -3.8% |
| 2008 | 14.2% | -1.2% |
| 2009 | 12.9% | -9.6% |
| 2010 | 10.7% | -16.6% |
| 2011 | 12.9% | +20.2% |
| 2012 | 12.9% | +0.4% |
| 2013 | 14.0% | +8.3% |
| 2014 | 15.5% | +10.5% |
| 2015 | 15.4% | -0.9% |
| 2016 | 12.1% | -21.1% |
| 2017 | 12.1% | -0.4% |
| 2018 | 9.5% | -21.4% |
| 2019 | 8.5% | -10.3% |
| 2020 | 11.5% | +35.1% |
| 2021 | 9.7% | -15.9% |
| 2022 | 8.4% | -13.3% |
| 2023 | 8.9% | +6.8% |
| 2024 | 8.9% | -0.2% |
Türkiye compared with similar countries
- Türkiye's 8.9% is above the median for upper middle income countries, which is 6.3%, 1.4× the median. (55 countries reporting)
- Türkiye's 8.9% is above the median for Europe & Central Asia, which is 5.2%, 1.7× the median. (51 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Türkiye 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 |
|---|---|---|---|
| 1992 | +422.6% | 1.8% | 9.6% |
| 1978 | +104.2% | 2.8% | 5.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 4.1% | 2.8% | 5.7% | 6 |
| 1980s | 3.5% | 1.8% | 5.1% | 4 |
| 1990s | 9.3% | 8.0% | 10.4% | 8 |
| 2000s | 14.5% | 11.9% | 18.0% | 10 |
| 2010s | 12.4% | 8.5% | 15.5% | 10 |
| 2020s | 9.5% | 8.4% | 11.5% | 5 |
Countries ranked near Türkiye
More private sector data for Türkiye
- Merchandise trade 40.0% (2025)
- Food imports 6.2% (2024)
- Manufactures imports 60.8% (2024)
- Merchandise imports 365.37 billion current US$ (2025)
- Food exports 12.3% (2024)
- Manufactures exports 73.6% (2024)
- Merchandise exports 273.36 billion current US$ (2025)
- Merchandise exports (current US$), per capita 3,183 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.1711 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 4.42 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Türkiye?
- Insurance and financial services in Türkiye was 8.9% 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 Türkiye?
- The highest recorded value was 18.0% in 2002.
- What is the lowest insurance and financial services recorded in Türkiye?
- The lowest recorded value was 1.8% in 1983.
- How does Türkiye rank for insurance and financial services?
- Türkiye ranks 63rd out of 197 countries with data for 2024.
- Is insurance and financial services rising or falling in Türkiye?
- Over the last ten years it is down 42.3%. The long-run trend across the full record is rising.
- Where does this Türkiye 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 — 43 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.