Insurance and financial services (% of commercial service imports) in Venezuela
Venezuela: Insurance and financial services (% of commercial service imports) was 8.3% in 2025. ▲ Rising
Insurance and financial services in Venezuela, 1970–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service imports.
Analysis
Venezuela recorded 8.3% for insurance and financial services in 2025.
That represents a change of up 10.0% on the previous year and up 9.7% over ten years.
Over the whole period, insurance and financial services in Venezuela peaked at 15.9% in 2017 and was at its lowest, 1.7%, in 1992.
Venezuela ranks 72nd of 197 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 56 years of available data.
Insurance and financial services (% of commercial service imports) in Venezuela, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1970 | 9.0% | — |
| 1971 | 10.0% | +10.9% |
| 1972 | 9.1% | -8.9% |
| 1973 | 8.5% | -6.7% |
| 1974 | 6.6% | -22.4% |
| 1975 | 5.7% | -14.4% |
| 1976 | 6.7% | +17.7% |
| 1977 | 5.4% | -19.5% |
| 1978 | 4.6% | -13.8% |
| 1979 | 4.6% | -0.6% |
| 1980 | 4.9% | +5.8% |
| 1981 | 4.4% | -8.9% |
| 1982 | 6.0% | +35.8% |
| 1983 | 4.1% | -32.4% |
| 1984 | 3.3% | -19.5% |
| 1985 | 4.3% | +30.4% |
| 1986 | 5.1% | +19.5% |
| 1987 | 5.2% | +2.3% |
| 1988 | 5.7% | +10.3% |
| 1989 | 1.9% | -66.2% |
| 1990 | 4.2% | +116.9% |
| 1991 | 2.2% | -48.1% |
| 1992 | 1.7% | -21.3% |
| 1993 | 2.0% | +16.0% |
| 1994 | 2.4% | +19.1% |
| 1995 | 2.5% | +6.9% |
| 1996 | 2.9% | +15.0% |
| 1997 | 7.5% | +155.6% |
| 1998 | 6.2% | -16.9% |
| 1999 | 6.0% | -2.6% |
| 2000 | 5.3% | -12.0% |
| 2001 | 5.8% | +9.4% |
| 2002 | 7.3% | +25.5% |
| 2003 | 8.3% | +14.2% |
| 2004 | 6.4% | -22.9% |
| 2005 | 9.0% | +39.5% |
| 2006 | 9.1% | +0.9% |
| 2007 | 9.2% | +1.3% |
| 2008 | 9.1% | -1.1% |
| 2009 | 9.2% | +1.5% |
| 2010 | 7.9% | -14.7% |
| 2011 | 7.0% | -11.1% |
| 2012 | 6.7% | -3.9% |
| 2013 | 5.8% | -13.7% |
| 2014 | 5.8% | -0.3% |
| 2015 | 7.5% | +30.6% |
| 2016 | 7.1% | -6.3% |
| 2017 | 15.9% | +124.4% |
| 2018 | 7.4% | -53.2% |
| 2019 | 6.7% | -10.3% |
| 2020 | 8.2% | +23.5% |
| 2021 | 7.5% | -8.5% |
| 2022 | 7.0% | -7.6% |
| 2023 | 7.6% | +9.2% |
| 2024 | 7.5% | -0.9% |
| 2025 | 8.3% | +10.0% |
Venezuela compared with similar countries
- Venezuela's 8.3% is above the median for lower middle income countries, which is 6.0%, 1.4× the median. (47 countries reporting)
- Venezuela's 8.3% is below the median for Latin America & Caribbean, which is 10.0%, 83% of the median. (37 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services (% of commercial service imports) in Venezuela 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 |
|---|---|---|---|
| 1997 | +155.6% | 2.9% | 7.5% |
| 2017 | +124.4% | 7.1% | 15.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 7.0% | 4.6% | 10.0% | 10 |
| 1980s | 4.5% | 1.9% | 6.0% | 10 |
| 1990s | 3.8% | 1.7% | 7.5% | 10 |
| 2000s | 7.9% | 5.3% | 9.2% | 10 |
| 2010s | 7.8% | 5.8% | 15.9% | 10 |
| 2020s | 7.7% | 7.0% | 8.3% | 6 |
Countries ranked near Venezuela
More private sector data for Venezuela
- Merchandise trade 22.5% (2025)
- Food imports 18.4% (2013)
- Manufactures imports 70.7% (2013)
- Merchandise imports 13.80 billion current US$ (2025)
- Commercial service imports 5.95 billion current US$ (2025)
- Food exports 0.0% (2013)
- Manufactures exports 1.8% (2013)
- Merchandise exports 8.60 billion current US$ (2025)
- Commercial service exports 1.12 billion current US$ (2025)
- Merchandise exports (current US$), per capita 301.58 current US$ per person (2025)
Frequently asked questions
- What is insurance and financial services in Venezuela?
- Insurance and financial services in Venezuela was 8.3% in 2025, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Venezuela?
- The highest recorded value was 15.9% in 2017.
- What is the lowest insurance and financial services recorded in Venezuela?
- The lowest recorded value was 1.7% in 1992.
- How does Venezuela rank for insurance and financial services?
- Venezuela ranks 72nd out of 197 countries with data for 2025.
- Is insurance and financial services rising or falling in Venezuela?
- Over the last ten years it is up 9.7%. The long-run trend across the full record is rising.
- Where does this Venezuela 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.