Insurance and financial services in Cyprus
Cyprus: Insurance and financial services was 19.6% in 2025. ◆ Volatile
Insurance and financial services in Cyprus, 1995–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service exports, BoP.
Analysis
In 2025, insurance and financial services in Cyprus stood at 19.6%.
The figure is down 0.1% on the previous year and down 36.5% over ten years.
Over the whole period, insurance and financial services in Cyprus peaked at 34.3% in 2020 and was at its lowest, 2.3%, in 1995.
That places Cyprus 13th out of 190 countries with data for 2025, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in Cyprus, year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 1995 | 2.3% | — |
| 1996 | 2.9% | +25.0% |
| 1997 | 3.3% | +13.7% |
| 1998 | 3.8% | +15.5% |
| 1999 | 5.2% | +39.0% |
| 2000 | 5.4% | +3.5% |
| 2001 | 4.2% | -21.5% |
| 2002 | 4.0% | -6.5% |
| 2003 | 3.5% | -10.6% |
| 2004 | 4.5% | +28.0% |
| 2005 | 5.3% | +17.8% |
| 2006 | 6.5% | +21.6% |
| 2007 | 10.3% | +58.0% |
| 2008 | 27.9% | +171.5% |
| 2009 | 27.8% | -0.3% |
| 2010 | 30.4% | +9.4% |
| 2011 | 30.0% | -1.3% |
| 2012 | 26.2% | -12.9% |
| 2013 | 25.4% | -3.1% |
| 2014 | 31.5% | +24.4% |
| 2015 | 30.9% | -1.9% |
| 2016 | 31.7% | +2.6% |
| 2017 | 29.3% | -7.5% |
| 2018 | 28.3% | -3.4% |
| 2019 | 27.3% | -3.8% |
| 2020 | 34.3% | +25.8% |
| 2021 | 29.1% | -15.1% |
| 2022 | 27.4% | -5.8% |
| 2023 | 18.6% | -32.1% |
| 2024 | 19.7% | +5.6% |
| 2025 | 19.6% | -0.1% |
Cyprus compared with similar countries
- Cyprus's 19.6% is above the median for high income countries, which is 5.3%, 3.7× the median. (69 countries reporting)
- Cyprus's 19.6% is above the median for Europe & Central Asia, which is 3.5%, 5.6× the median. (51 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Cyprus 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 |
|---|---|---|---|
| 2008 | +171.5% | 10.3% | 27.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 3.5% | 2.3% | 5.2% | 5 |
| 2000s | 10.0% | 3.5% | 27.9% | 10 |
| 2010s | 29.1% | 25.4% | 31.7% | 10 |
| 2020s | 24.8% | 18.6% | 34.3% | 6 |
Countries ranked near Cyprus
- 10 Switzerland 21.0% compare
- 11 Guinea-Bissau 20.7% compare
- 12 United States of America 19.8% compare
- 14 Bermuda 19.3% compare
- 15 Haiti 19.1% compare
- 16 Burkina Faso 15.4% compare
More economy & growth data for Cyprus
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 2.45 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.98 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 1.57 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.038 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 1,144 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 11.16 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 122.17 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.2708 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 8,144 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 41.22 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Cyprus?
- Insurance and financial services in Cyprus was 19.6% 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 Cyprus?
- The highest recorded value was 34.3% in 2020.
- What is the lowest insurance and financial services recorded in Cyprus?
- The lowest recorded value was 2.3% in 1995.
- How does Cyprus rank for insurance and financial services?
- Cyprus ranks 13th out of 190 countries with data for 2025.
- Is insurance and financial services rising or falling in Cyprus?
- Over the last ten years it is down 36.5%. The long-run trend across the full record is volatile.
- Where does this Cyprus 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.