Insurance and financial services in IDA total
IDA total: Insurance and financial services was 5.3% in 2024. ▲ Rising
Insurance and financial services in IDA total, 1983–2024
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 IDA total is 5.3%, measured in 2024.
Compared with earlier readings it is up 0.2% on the previous year and up 89.2% over ten years.
Over the whole period, insurance and financial services in IDA total peaked at 6.2% in 2021 and was at its lowest, 1.3%, in 1994.
That places IDA total 22nd out of 45 groups with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently rising across the 41 years of available data.
Insurance and financial services in IDA total, year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 1983 | 2.5% | — |
| 1984 | 2.2% | -13.4% |
| 1985 | 2.8% | +25.8% |
| 1986 | 2.5% | -10.3% |
| 1987 | 1.9% | -24.1% |
| 1988 | 1.5% | -19.2% |
| 1989 | 1.7% | +11.6% |
| 1990 | 1.8% | +5.0% |
| 1991 | 1.7% | -4.5% |
| 1992 | 1.6% | -6.8% |
| 1994 | 1.3% | -20.4% |
| 1995 | 1.3% | +0.5% |
| 1996 | 1.8% | +43.1% |
| 1997 | 1.7% | -5.6% |
| 1998 | 2.1% | +20.5% |
| 1999 | 2.1% | +2.0% |
| 2000 | 1.9% | -9.6% |
| 2001 | 4.6% | +141.4% |
| 2002 | 1.6% | -64.8% |
| 2003 | 2.1% | +32.1% |
| 2004 | 2.1% | -3.7% |
| 2005 | 2.8% | +34.5% |
| 2006 | 2.3% | -17.8% |
| 2007 | 2.3% | +0.3% |
| 2008 | 2.5% | +11.0% |
| 2009 | 2.7% | +4.5% |
| 2010 | 2.1% | -20.6% |
| 2011 | 2.7% | +26.5% |
| 2012 | 3.5% | +30.9% |
| 2013 | 2.7% | -22.2% |
| 2014 | 2.8% | +3.2% |
| 2015 | 2.9% | +3.2% |
| 2016 | 3.1% | +6.1% |
| 2017 | 3.3% | +7.1% |
| 2018 | 3.7% | +13.1% |
| 2019 | 3.3% | -12.6% |
| 2020 | 6.0% | +85.2% |
| 2021 | 6.2% | +3.0% |
| 2022 | 5.3% | -14.0% |
| 2023 | 5.3% | -0.9% |
| 2024 | 5.3% | +0.2% |
Biggest year-on-year movements
Years where Insurance and financial services in IDA total 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 |
|---|---|---|---|
| 2001 | +141.4% | 1.9% | 4.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 2.2% | 1.5% | 2.8% | 7 |
| 1990s | 1.7% | 1.3% | 2.1% | 9 |
| 2000s | 2.5% | 1.6% | 4.6% | 10 |
| 2010s | 3.0% | 2.1% | 3.7% | 10 |
| 2020s | 5.6% | 5.3% | 6.2% | 5 |
Countries ranked near IDA total
More economy & growth data for IDA total
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0084 BoP, current US$ per US$ of GDP (2025)
- General government final consumption expenditure (constant 2015 US$) 5.72 % change on previous year (2025)
- General government final consumption expenditure (current US$), per 197.95 current US$ per person (2025)
- General government final consumption expenditure (current US$), per 0.1231 current US$ per US$ of GDP (2025)
- General government final consumption expenditure (current US$) 12.46 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 13.44 BoP, current US$ per person (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 1.48 BoP, current US$ per person (2025)
- Foreign direct investment, net outflows (BoP, current US$), gaps 2.94 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0009 BoP, current US$ per US$ of GDP (2025)
- Final consumption expenditure (current US$), per unit of GDP 1.02 current US$ per US$ of GDP (2025)
Frequently asked questions
- What is insurance and financial services in IDA total?
- Insurance and financial services in IDA total was 5.3% 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 IDA total?
- The highest recorded value was 6.2% in 2021.
- What is the lowest insurance and financial services recorded in IDA total?
- The lowest recorded value was 1.3% in 1994.
- How does IDA total rank for insurance and financial services?
- IDA total ranks 22nd out of 45 groups with data for 2024.
- Is insurance and financial services rising or falling in IDA total?
- Over the last ten years it is up 89.2%. The long-run trend across the full record is rising.
- Where does this IDA total 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.