Insurance and financial services in Belarus
Belarus: Insurance and financial services was 1.0% in 2021. ◆ Volatile
Insurance and financial services in Belarus, 1993–2021
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service exports, BoP.
Analysis
In 2021, insurance and financial services in Belarus stood at 1.0%.
That represents a change of up 17.0% on the previous year and up 77.7% over ten years.
Over the whole period, insurance and financial services in Belarus peaked at 1.4% in 1998 and was at its lowest, 0.1%, in 2003.
That places Belarus 142nd out of 190 countries with data for 2021, 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 Belarus, year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 1993 | 1.0% | — |
| 1994 | 0.2% | -83.7% |
| 1995 | 0.5% | +183.2% |
| 1996 | 0.3% | -24.2% |
| 1997 | 0.3% | -10.7% |
| 1998 | 1.4% | +371.3% |
| 1999 | 0.3% | -78.8% |
| 2000 | 0.6% | +84.7% |
| 2001 | 0.6% | +6.5% |
| 2002 | 0.5% | -21.1% |
| 2003 | 0.1% | -69.0% |
| 2004 | 0.2% | +32.0% |
| 2005 | 0.2% | -11.8% |
| 2006 | 0.4% | +110.3% |
| 2007 | 0.3% | -21.1% |
| 2008 | 0.4% | +42.1% |
| 2009 | 0.3% | -28.4% |
| 2010 | 0.6% | +102.4% |
| 2011 | 0.5% | -6.0% |
| 2012 | 0.7% | +27.8% |
| 2013 | 0.6% | -10.3% |
| 2014 | 0.8% | +21.4% |
| 2015 | 0.7% | -2.7% |
| 2016 | 0.7% | -7.9% |
| 2017 | 0.6% | -13.7% |
| 2018 | 0.6% | +4.4% |
| 2019 | 0.7% | +9.7% |
| 2020 | 0.8% | +23.2% |
| 2021 | 1.0% | +17.0% |
Belarus compared with similar countries
- Belarus's 1.0% is below the median for upper middle income countries, which is 1.8%, 54% of the median. (53 countries reporting)
- Belarus's 1.0% is below the median for Europe & Central Asia, which is 3.5%, 28% of the median. (51 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Belarus 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 |
|---|---|---|---|
| 1998 | +371.3% | 0.3% | 1.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 0.6% | 0.2% | 1.4% | 7 |
| 2000s | 0.3% | 0.1% | 0.6% | 10 |
| 2010s | 0.7% | 0.5% | 0.8% | 10 |
| 2020s | 0.9% | 0.8% | 1.0% | 2 |
Countries ranked near Belarus
- 139 Montenegro 1.1% compare
- 140 Syrian Arab Republic 1.1% compare
- 141 Philippines 1.1% compare
- 143 Tanzania, United Republic of 0.9% compare
- 144 French Polynesia 0.9% compare
- 145 Solomon Islands 0.9% compare
More economy & growth data for Belarus
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.52 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 1.07 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 175.69 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0019 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 19.34 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 1.60 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -7.77 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0171 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 176.27 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 62.92 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Belarus?
- Insurance and financial services in Belarus was 1.0% in 2021, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Belarus?
- The highest recorded value was 1.4% in 1998.
- What is the lowest insurance and financial services recorded in Belarus?
- The lowest recorded value was 0.1% in 2003.
- How does Belarus rank for insurance and financial services?
- Belarus ranks 142nd out of 190 countries with data for 2021.
- Is insurance and financial services rising or falling in Belarus?
- Over the last ten years it is up 77.7%. The long-run trend across the full record is volatile.
- Where does this Belarus 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.