Insurance and financial services in Gambia
Gambia: Insurance and financial services was 0.1% in 2024. ◆ Volatile
Insurance and financial services in Gambia, 1978–2024
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 Gambia is 0.1%, measured in 2024.
The figure is down 9.8% on the previous year and down 94.3% over ten years.
Over the whole period, insurance and financial services in Gambia peaked at 1.2% in 2014 and was at its lowest, 0.0%, in 1992.
That places Gambia 183rd 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 Gambia, year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 1978 | 0.7% | — |
| 1979 | 0.3% | -62.1% |
| 1982 | 0.6% | +102.9% |
| 1983 | 0.6% | +11.1% |
| 1984 | 0.8% | +29.8% |
| 1985 | 0.6% | -26.5% |
| 1986 | 0.8% | +41.6% |
| 1987 | 0.3% | -58.4% |
| 1988 | 0.2% | -50.3% |
| 1989 | 0.1% | -23.6% |
| 1990 | 0.1% | -51.2% |
| 1991 | 0.1% | -20.8% |
| 1992 | 0.0% | -6.8% |
| 1993 | 0.1% | +139.3% |
| 1994 | 0.1% | -4.9% |
| 1995 | 0.2% | +84.0% |
| 1996 | 0.1% | -45.4% |
| 1997 | 0.1% | -5.7% |
| 2003 | 0.6% | +490.6% |
| 2004 | 0.6% | +4.2% |
| 2005 | 0.5% | -27.6% |
| 2006 | 0.4% | -13.0% |
| 2007 | 0.3% | -23.4% |
| 2008 | 0.5% | +59.1% |
| 2009 | 0.1% | -84.9% |
| 2010 | 0.3% | +299.9% |
| 2011 | 0.5% | +58.5% |
| 2012 | 0.9% | +89.3% |
| 2013 | 0.7% | -20.5% |
| 2014 | 1.2% | +69.6% |
| 2015 | 0.3% | -77.5% |
| 2016 | 0.2% | -9.1% |
| 2017 | 0.2% | -34.6% |
| 2018 | 0.2% | +17.2% |
| 2019 | 0.2% | -4.4% |
| 2020 | 0.4% | +103.9% |
| 2021 | 0.3% | -25.2% |
| 2022 | 0.1% | -65.5% |
| 2023 | 0.1% | -19.3% |
| 2024 | 0.1% | -9.8% |
Gambia compared with similar countries
- Gambia's 0.1% is below the median for low income countries, which is 2.5%, 3% of the median. (21 countries reporting)
- Gambia'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 Gambia 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 |
|---|---|---|---|
| 2003 | +490.6% | 0.1% | 0.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 0.5% | 0.3% | 0.7% | 2 |
| 1980s | 0.5% | 0.1% | 0.8% | 8 |
| 1990s | 0.1% | 0.0% | 0.2% | 8 |
| 2000s | 0.4% | 0.1% | 0.6% | 7 |
| 2010s | 0.5% | 0.2% | 1.2% | 10 |
| 2020s | 0.2% | 0.1% | 0.4% | 5 |
Countries ranked near Gambia
More economy & growth data for Gambia
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 2.69 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 5.02 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps -665,150 BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.0003 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita -0.241 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 232.36 million BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual 13.05 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0966 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 84.19 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate 8.98 % change on previous year (2024)
Frequently asked questions
- What is insurance and financial services in Gambia?
- Insurance and financial services in Gambia 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 Gambia?
- The highest recorded value was 1.2% in 2014.
- What is the lowest insurance and financial services recorded in Gambia?
- The lowest recorded value was 0.0% in 1992.
- How does Gambia rank for insurance and financial services?
- Gambia ranks 183rd out of 190 countries with data for 2024.
- Is insurance and financial services rising or falling in Gambia?
- Over the last ten years it is down 94.3%. The long-run trend across the full record is volatile.
- Where does this Gambia 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.