Insurance and financial services in Aruba
Aruba: Insurance and financial services was 1.3% in 2023. ◆ Volatile
Insurance and financial services in Aruba, 1986–2023
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service exports, BoP.
Analysis
Aruba recorded 1.3% for insurance and financial services in 2023.
That represents a change of up 10.2% on the previous year and up 78.1% over ten years.
Over the whole period, insurance and financial services in Aruba peaked at 4.0% in 1992 and was at its lowest, 0.2%, in 2002.
That places Aruba 129th out of 190 countries with data for 2023, putting it 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 Aruba, year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 1986 | 0.3% | — |
| 1987 | 0.3% | -11.1% |
| 1988 | 0.3% | +7.5% |
| 1989 | 0.4% | +30.7% |
| 1990 | 0.4% | -7.9% |
| 1991 | 3.3% | +808.1% |
| 1992 | 4.0% | +23.9% |
| 1993 | 3.6% | -11.9% |
| 1994 | 3.8% | +7.6% |
| 1995 | 3.4% | -11.4% |
| 1996 | 2.2% | -36.0% |
| 1997 | 0.6% | -71.3% |
| 1998 | 1.2% | +90.9% |
| 1999 | 0.2% | -85.6% |
| 2000 | 0.4% | +139.5% |
| 2001 | 0.2% | -60.6% |
| 2002 | 0.2% | -0.2% |
| 2003 | 0.2% | +34.4% |
| 2004 | 0.2% | +11.4% |
| 2005 | 0.3% | +24.2% |
| 2006 | 0.4% | +37.8% |
| 2007 | 0.5% | +10.2% |
| 2008 | 0.5% | +13.2% |
| 2009 | 0.9% | +70.4% |
| 2010 | 0.9% | +5.5% |
| 2011 | 1.0% | +4.6% |
| 2012 | 0.9% | -3.0% |
| 2013 | 0.8% | -20.3% |
| 2014 | 0.7% | -11.2% |
| 2015 | 0.8% | +26.1% |
| 2016 | 0.8% | -2.2% |
| 2017 | 0.8% | -8.7% |
| 2018 | 1.2% | +55.3% |
| 2019 | 1.0% | -10.8% |
| 2020 | 3.4% | +228.6% |
| 2021 | 1.9% | -44.4% |
| 2022 | 1.2% | -36.2% |
| 2023 | 1.3% | +10.2% |
Aruba compared with similar countries
- Aruba's 1.3% is below the median for high income countries, which is 5.3%, 25% of the median. (69 countries reporting)
- Aruba's 1.3% is below the median for Latin America & Caribbean, which is 2.7%, 49% of the median. (35 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Aruba 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 |
|---|---|---|---|
| 1991 | +808.1% | 0.4% | 3.3% |
| 2020 | +228.6% | 1.0% | 3.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 0.3% | 0.3% | 0.4% | 4 |
| 1990s | 2.3% | 0.2% | 4.0% | 10 |
| 2000s | 0.4% | 0.2% | 0.9% | 10 |
| 2010s | 0.9% | 0.7% | 1.2% | 10 |
| 2020s | 2.0% | 1.2% | 3.4% | 4 |
Countries ranked near Aruba
More economy & growth data for Aruba
- Gross national expenditure (current US$), per unit of GDP 0.9279 current US$ per US$ of GDP (2024)
- Exports of goods and services (current US$), per unit of GDP 0.8597 current US$ per US$ of GDP (2024)
- Exports of goods and services (current US$), annual growth rate 19.75 % change on previous year (2024)
- Gross national expenditure (current LCU), per capita 64,094 current LCU per person (2024)
- Gross national expenditure (current LCU), per unit of GDP 1.66 current LCU per US$ of GDP (2024)
- Gross national expenditure (current LCU), annual growth rate 9.8 % change on previous year (2024)
- Gross national expenditure (current US$), per capita 35,807 current US$ per person (2024)
- Final consumption expenditure (current US$), per capita 25,871 current US$ per person (2024)
- Final consumption expenditure (current LCU), annual growth rate -1.38 % change on previous year (2024)
- Final consumption expenditure (current LCU), per unit of GDP 1.2 current LCU per US$ of GDP (2024)
Frequently asked questions
- What is insurance and financial services in Aruba?
- Insurance and financial services in Aruba was 1.3% in 2023, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Aruba?
- The highest recorded value was 4.0% in 1992.
- What is the lowest insurance and financial services recorded in Aruba?
- The lowest recorded value was 0.2% in 2002.
- How does Aruba rank for insurance and financial services?
- Aruba ranks 129th out of 190 countries with data for 2023.
- Is insurance and financial services rising or falling in Aruba?
- Over the last ten years it is up 78.1%. The long-run trend across the full record is volatile.
- Where does this Aruba 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 service exports, BoP). Statizoid updates them automatically from the source API.
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About this data
Insurance and financial services cover various types of insurance provided to nonresidents by resident insurance enterprises and vice versa, and financial intermediary and auxiliary services (except those of insurance enterprises and pension funds) exchanged between residents and nonresidents. This indicator is expressed as a percentage of service exports which are services provided by residents to non-residents.