Insurance and financial services in Iceland
Iceland: Insurance and financial services was 4.4% in 2025. ◆ Volatile
Insurance and financial services in Iceland, 1976–2025
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 Iceland stood at 4.4%.
The figure is up 43.9% on the previous year and up 11.3% over ten years.
Over the whole period, insurance and financial services in Iceland peaked at 9.2% in 2010 and was at its lowest, 0.5%, in 1978.
That places Iceland 70th out of 190 countries with data for 2025, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in Iceland, year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 1976 | 0.8% | — |
| 1977 | 0.8% | +0.1% |
| 1978 | 0.5% | -34.2% |
| 1979 | 0.5% | +10.1% |
| 1980 | 0.8% | +43.9% |
| 1981 | 0.6% | -20.2% |
| 1982 | 0.6% | -11.1% |
| 1983 | 0.6% | +4.7% |
| 1984 | 0.6% | -1.3% |
| 1985 | 0.6% | +10.0% |
| 1986 | 0.6% | +0.9% |
| 1987 | 0.6% | -7.7% |
| 1988 | 0.7% | +21.1% |
| 1989 | 0.8% | +8.3% |
| 1990 | 1.2% | +51.8% |
| 1991 | 1.2% | +4.7% |
| 1992 | 2.1% | +68.9% |
| 1993 | 1.9% | -7.5% |
| 1994 | 0.9% | -52.7% |
| 2009 | 7.9% | +771.2% |
| 2010 | 9.2% | +16.2% |
| 2011 | 8.1% | -11.4% |
| 2012 | 6.6% | -19.1% |
| 2013 | 5.0% | -24.0% |
| 2014 | 4.2% | -16.8% |
| 2015 | 4.0% | -4.4% |
| 2016 | 4.2% | +4.5% |
| 2017 | 4.1% | -1.0% |
| 2018 | 4.2% | +2.2% |
| 2019 | 3.4% | -18.8% |
| 2020 | 6.5% | +89.2% |
| 2021 | 5.1% | -21.1% |
| 2022 | 3.3% | -34.8% |
| 2023 | 3.3% | -1.0% |
| 2024 | 3.1% | -6.5% |
| 2025 | 4.4% | +43.9% |
Iceland compared with similar countries
- Iceland's 4.4% is below the median for high income countries, which is 5.3%, 84% of the median. (69 countries reporting)
- Iceland's 4.4% is above the median for Europe & Central Asia, which is 3.5%, 1.3× the median. (51 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Iceland 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 |
|---|---|---|---|
| 2009 | +771.2% | 0.9% | 7.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 0.6% | 0.5% | 0.8% | 4 |
| 1980s | 0.6% | 0.6% | 0.8% | 10 |
| 1990s | 1.5% | 0.9% | 2.1% | 5 |
| 2000s | 7.9% | 7.9% | 7.9% | 1 |
| 2010s | 5.3% | 3.4% | 9.2% | 10 |
| 2020s | 4.3% | 3.1% | 6.5% | 6 |
Countries ranked near Iceland
More economy & growth data for Iceland
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.96 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.48 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps -851.71 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.0221 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita -2,170 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled -201.70 million BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -107.12 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit -0.0052 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita -514.02 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 20.76 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Iceland?
- Insurance and financial services in Iceland was 4.4% 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 Iceland?
- The highest recorded value was 9.2% in 2010.
- What is the lowest insurance and financial services recorded in Iceland?
- The lowest recorded value was 0.5% in 1978.
- How does Iceland rank for insurance and financial services?
- Iceland ranks 70th out of 190 countries with data for 2025.
- Is insurance and financial services rising or falling in Iceland?
- Over the last ten years it is up 11.3%. The long-run trend across the full record is volatile.
- Where does this Iceland 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.