Insurance and financial services in Europe & Central Asia (excluding high income)
Europe & Central Asia (excluding high income): Insurance and financial services was 2.8% in 2024. ▲ Rising
Insurance and financial services in Europe & Central Asia (excluding high income), 1994–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service exports, BoP.
Analysis
Europe & Central Asia (excluding high income) recorded 2.8% for insurance and financial services in 2024.
That represents a change of down 5.5% on the previous year and up 39.4% over ten years.
Over the whole period, insurance and financial services in Europe & Central Asia (excluding high income) peaked at 3.2% in 2008 and was at its lowest, 1.4%, in 2002.
Europe & Central Asia (excluding high income) ranks 37th of 45 groups on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 31 years of available data.
Insurance and financial services in Europe & Central Asia (excluding high income), year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 1994 | 2.3% | — |
| 1995 | 1.7% | -24.6% |
| 1996 | 1.9% | +8.6% |
| 1997 | 1.5% | -20.1% |
| 1998 | 1.9% | +25.1% |
| 1999 | 1.7% | -11.4% |
| 2000 | 1.7% | +4.6% |
| 2001 | 1.8% | +4.1% |
| 2002 | 1.4% | -20.0% |
| 2003 | 2.1% | +45.1% |
| 2004 | 1.8% | -12.5% |
| 2005 | 1.8% | -1.2% |
| 2006 | 2.2% | +21.1% |
| 2007 | 2.6% | +20.8% |
| 2008 | 3.2% | +19.6% |
| 2009 | 2.6% | -19.1% |
| 2010 | 2.5% | -1.4% |
| 2011 | 2.2% | -11.7% |
| 2012 | 2.0% | -11.3% |
| 2013 | 1.8% | -8.8% |
| 2014 | 2.0% | +10.8% |
| 2015 | 2.0% | -1.1% |
| 2016 | 1.7% | -13.4% |
| 2017 | 2.0% | +19.1% |
| 2018 | 1.8% | -10.2% |
| 2019 | 1.8% | -2.3% |
| 2020 | 2.4% | +36.4% |
| 2021 | 1.7% | -29.6% |
| 2022 | 1.9% | +9.1% |
| 2023 | 2.9% | +57.4% |
| 2024 | 2.8% | -5.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 1.8% | 1.5% | 2.3% | 6 |
| 2000s | 2.1% | 1.4% | 3.2% | 10 |
| 2010s | 2.0% | 1.7% | 2.5% | 10 |
| 2020s | 2.4% | 1.7% | 2.9% | 5 |
Countries ranked near Europe & Central Asia (excluding high income)
More economy & growth data for Europe & Central Asia (excluding high income)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0062 BoP, current US$ per US$ of GDP (2025)
- General government final consumption expenditure (constant 2015 US$) 1.77 % change on previous year (2025)
- General government final consumption expenditure (current US$), per 1,786 current US$ per person (2025)
- General government final consumption expenditure (current US$), per 0.1606 current US$ per US$ of GDP (2025)
- General government final consumption expenditure (current US$) 15.06 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 68.56 BoP, current US$ per person (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 20.44 BoP, current US$ per person (2025)
- Foreign direct investment, net outflows (BoP, current US$), gaps 5.18 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0018 BoP, current US$ per US$ of GDP (2025)
- Final consumption expenditure (current US$), annual growth rate 16.87 % change on previous year (2025)
All data for Europe & Central Asia (excluding high income) →
Frequently asked questions
- What is insurance and financial services in Europe & Central Asia (excluding high income)?
- Insurance and financial services in Europe & Central Asia (excluding high income) was 2.8% 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 Europe & Central Asia (excluding high income)?
- The highest recorded value was 3.2% in 2008.
- What is the lowest insurance and financial services recorded in Europe & Central Asia (excluding high income)?
- The lowest recorded value was 1.4% in 2002.
- How does Europe & Central Asia (excluding high income) rank for insurance and financial services?
- Europe & Central Asia (excluding high income) ranks 37th out of 45 groups with data for 2024.
- Is insurance and financial services rising or falling in Europe & Central Asia (excluding high income)?
- Over the last ten years it is up 39.4%. The long-run trend across the full record is rising.
- Where does this Europe & Central Asia (excluding high income) 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.