Insurance and financial services in Burkina Faso
Burkina Faso: Insurance and financial services was 15.4% in 2024. ▲ Rising
Insurance and financial services in Burkina Faso, 2005–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service exports, BoP.
Analysis
The most recent figure for insurance and financial services in Burkina Faso is 15.4%, measured in 2024.
The figure is down 0.4% on the previous year and down 13.7% over ten years.
Over the whole period, insurance and financial services in Burkina Faso peaked at 26.8% in 2012 and was at its lowest, 1.4%, in 2009.
That places Burkina Faso 16th out of 190 countries with data for 2024, putting it in the top 10%.
The long-run direction has been consistently rising across the 20 years of available data.
Insurance and financial services in Burkina Faso, year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 2005 | 17.1% | — |
| 2006 | 1.9% | -88.9% |
| 2007 | 13.5% | +612.8% |
| 2008 | 1.8% | -86.8% |
| 2009 | 1.4% | -19.0% |
| 2010 | 4.5% | +211.6% |
| 2011 | 4.0% | -11.8% |
| 2012 | 26.8% | +577.5% |
| 2013 | 18.6% | -30.8% |
| 2014 | 17.8% | -4.1% |
| 2015 | 18.4% | +3.4% |
| 2016 | 17.6% | -4.3% |
| 2017 | 17.7% | +0.3% |
| 2018 | 17.7% | +0.0% |
| 2019 | 17.7% | +0.1% |
| 2020 | 19.3% | +9.0% |
| 2021 | 18.5% | -4.1% |
| 2022 | 18.3% | -1.0% |
| 2023 | 15.4% | -15.9% |
| 2024 | 15.4% | -0.4% |
Burkina Faso compared with similar countries
- Burkina Faso's 15.4% is above the median for low income countries, which is 2.5%, 6.2× the median. (21 countries reporting)
- Burkina Faso's 15.4% is above the median for Sub-Saharan Africa, which is 3.1%, 4.9× the median. (45 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Burkina Faso 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 |
|---|---|---|---|
| 2007 | +612.8% | 1.9% | 13.5% |
| 2012 | +577.5% | 4.0% | 26.8% |
| 2010 | +211.6% | 1.4% | 4.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 7.2% | 1.4% | 17.1% | 5 |
| 2010s | 16.1% | 4.0% | 26.8% | 10 |
| 2020s | 17.4% | 15.4% | 19.3% | 5 |
Countries ranked near Burkina Faso
More economy & growth data for Burkina Faso
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 2.54 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 4.98 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 57.04 million BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0025 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita 2.42 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled -202.22 million BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual -284.78 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit -0.0087 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita -8.59 BoP, current US$ per person (2024)
- General government final consumption expenditure (current US$) 9.55 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Burkina Faso?
- Insurance and financial services in Burkina Faso was 15.4% 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 Burkina Faso?
- The highest recorded value was 26.8% in 2012.
- What is the lowest insurance and financial services recorded in Burkina Faso?
- The lowest recorded value was 1.4% in 2009.
- How does Burkina Faso rank for insurance and financial services?
- Burkina Faso ranks 16th out of 190 countries with data for 2024.
- Is insurance and financial services rising or falling in Burkina Faso?
- Over the last ten years it is down 13.7%. The long-run trend across the full record is rising.
- Where does this Burkina Faso 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.
Download this data
CSV · JSON — 20 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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.