Insurance and financial services in Ethiopia
Ethiopia: Insurance and financial services was 0.1% in 2024. ◆ Volatile
Insurance and financial services in Ethiopia, 1977–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service exports, BoP.
Analysis
In 2024, insurance and financial services in Ethiopia stood at 0.1%.
That represents a change of up 162.1% on the previous year and up 12,630.1% over ten years.
Over the whole period, insurance and financial services in Ethiopia peaked at 4.5% in 2007 and was at its lowest, 0.0%, in 2014.
That places Ethiopia 184th out of 190 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in Ethiopia, year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 1977 | 0.4% | — |
| 1978 | 0.2% | -57.1% |
| 1979 | 0.2% | +13.3% |
| 1980 | 0.2% | +24.8% |
| 1981 | 0.5% | +110.7% |
| 1982 | 0.3% | -29.4% |
| 1983 | 0.4% | +26.5% |
| 1984 | 0.2% | -42.1% |
| 1985 | 0.1% | -44.4% |
| 1989 | 0.5% | +245.3% |
| 1990 | 0.6% | +28.8% |
| 1991 | 1.0% | +70.3% |
| 1992 | 2.4% | +135.2% |
| 1993 | 2.1% | -12.5% |
| 1994 | 1.7% | -19.6% |
| 1995 | 1.3% | -20.6% |
| 1996 | 1.7% | +28.0% |
| 1997 | 1.2% | -30.5% |
| 1998 | 2.1% | +78.9% |
| 1999 | 2.7% | +27.3% |
| 2000 | 0.9% | -66.1% |
| 2001 | 1.3% | +39.0% |
| 2002 | 1.4% | +6.7% |
| 2003 | 0.8% | -44.8% |
| 2004 | 0.4% | -47.6% |
| 2005 | 3.1% | +675.6% |
| 2006 | 1.8% | -42.8% |
| 2007 | 4.5% | +153.2% |
| 2008 | 1.3% | -71.0% |
| 2009 | 1.3% | -1.5% |
| 2010 | 0.2% | -85.9% |
| 2011 | 0.1% | -46.3% |
| 2012 | 0.1% | -46.4% |
| 2013 | 0.0% | -7.5% |
| 2014 | 0.0% | -99.0% |
| 2015 | 0.0% | +1954.1% |
| 2016 | 0.2% | +1501.9% |
| 2017 | 0.2% | +17.2% |
| 2018 | 1.0% | +444.3% |
| 2019 | 0.2% | -84.1% |
| 2020 | 0.1% | -9.1% |
| 2021 | 0.8% | +439.5% |
| 2022 | 0.2% | -78.5% |
| 2023 | 0.0% | -86.2% |
| 2024 | 0.1% | +162.1% |
Ethiopia compared with similar countries
- Ethiopia's 0.1% is below the median for low income countries, which is 2.5%, 2% of the median. (21 countries reporting)
- Ethiopia's 0.1% is below the median for Sub-Saharan Africa, which is 3.1%, 2% of the median. (45 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Ethiopia 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 |
|---|---|---|---|
| 2015 | +1954.1% | 0.0% | 0.0% |
| 2016 | +1501.9% | 0.0% | 0.2% |
| 2005 | +675.6% | 0.4% | 3.1% |
| 2018 | +444.3% | 0.2% | 1.0% |
| 2021 | +439.5% | 0.1% | 0.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 0.2% | 0.2% | 0.4% | 3 |
| 1980s | 0.3% | 0.1% | 0.5% | 7 |
| 1990s | 1.7% | 0.6% | 2.7% | 10 |
| 2000s | 1.7% | 0.4% | 4.5% | 10 |
| 2010s | 0.2% | 0.0% | 1.0% | 10 |
| 2020s | 0.2% | 0.0% | 0.8% | 5 |
Countries ranked near Ethiopia
More economy & growth data for Ethiopia
- Foreign direct investment, net outflows (BoP, current US$), gaps 0 BoP, current US$ (1989)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0 BoP, current US$ per US$ of GDP (1989)
- Foreign direct investment, net outflows (BoP, current US$), per capita 0 BoP, current US$ per person (1989)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 4.02 billion BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual 23.25 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0269 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 30.45 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate 86.59 % change on previous year (2024)
- Total reserves (includes gold, current US$), per unit of GDP 0.0253 includes gold, current US$ per US$ of GDP (2024)
- Total reserves (includes gold, current US$), per capita 28.66 includes gold, current US$ per person (2024)
Frequently asked questions
- What is insurance and financial services in Ethiopia?
- Insurance and financial services in Ethiopia was 0.1% 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 Ethiopia?
- The highest recorded value was 4.5% in 2007.
- What is the lowest insurance and financial services recorded in Ethiopia?
- The lowest recorded value was 0.0% in 2014.
- How does Ethiopia rank for insurance and financial services?
- Ethiopia ranks 184th out of 190 countries with data for 2024.
- Is insurance and financial services rising or falling in Ethiopia?
- Over the last ten years it is up 12,630.1%. The long-run trend across the full record is volatile.
- Where does this Ethiopia 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
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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.