Insurance and financial services in Latin America & Caribbean
Latin America & Caribbean: Insurance and financial services was 5.5% in 2025. ▲ Rising
Insurance and financial services in Latin America & Caribbean, 1979–2025
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 Latin America & Caribbean is 5.5%, measured in 2025.
That represents a change of down 15.0% on the previous year and up 6.7% over ten years.
Over the whole period, insurance and financial services in Latin America & Caribbean peaked at 8.3% in 2020 and was at its lowest, 3.1%, in 1994.
Latin America & Caribbean ranks 20th of 45 groups on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 47 years of available data.
Insurance and financial services in Latin America & Caribbean, year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 1979 | 5.2% | — |
| 1980 | 6.4% | +22.0% |
| 1981 | 6.8% | +6.3% |
| 1982 | 6.7% | -0.9% |
| 1983 | 5.3% | -20.8% |
| 1984 | 4.6% | -14.1% |
| 1985 | 6.4% | +39.2% |
| 1986 | 4.8% | -23.9% |
| 1987 | 4.8% | -0.9% |
| 1988 | 5.6% | +15.8% |
| 1989 | 4.0% | -28.2% |
| 1990 | 3.6% | -9.2% |
| 1991 | 3.5% | -3.5% |
| 1992 | 3.7% | +6.4% |
| 1993 | 4.5% | +21.5% |
| 1994 | 3.1% | -30.4% |
| 1995 | 5.5% | +73.6% |
| 1996 | 4.1% | -24.9% |
| 1997 | 3.6% | -12.3% |
| 1998 | 5.7% | +59.0% |
| 1999 | 5.4% | -5.8% |
| 2000 | 6.6% | +21.8% |
| 2001 | 5.3% | -19.5% |
| 2002 | 5.9% | +11.7% |
| 2003 | 4.7% | -20.4% |
| 2004 | 3.8% | -18.5% |
| 2005 | 4.5% | +16.9% |
| 2006 | 4.5% | +1.4% |
| 2007 | 6.0% | +31.8% |
| 2008 | 5.8% | -3.2% |
| 2009 | 5.6% | -3.0% |
| 2010 | 5.6% | -0.1% |
| 2011 | 6.0% | +7.5% |
| 2012 | 5.5% | -8.3% |
| 2013 | 5.9% | +7.1% |
| 2014 | 5.1% | -13.7% |
| 2015 | 5.1% | +0.2% |
| 2016 | 5.4% | +6.4% |
| 2017 | 5.9% | +8.4% |
| 2018 | 5.4% | -8.2% |
| 2019 | 5.6% | +3.6% |
| 2020 | 8.3% | +47.1% |
| 2021 | 7.5% | -9.1% |
| 2022 | 6.1% | -18.3% |
| 2023 | 6.0% | -1.6% |
| 2024 | 6.4% | +6.4% |
| 2025 | 5.5% | -15.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 5.2% | 5.2% | 5.2% | 1 |
| 1980s | 5.5% | 4.0% | 6.8% | 10 |
| 1990s | 4.3% | 3.1% | 5.7% | 10 |
| 2000s | 5.3% | 3.8% | 6.6% | 10 |
| 2010s | 5.6% | 5.1% | 6.0% | 10 |
| 2020s | 6.6% | 5.5% | 8.3% | 6 |
Countries ranked near Latin America & Caribbean
More economy & growth data for Latin America & Caribbean
- General government final consumption expenditure (constant 2015 US$) 2.15 % change on previous year (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 2.5 % change on previous year (2025)
- Households and NPISHs Final consumption expenditure (current US$) 7,621 current US$ per person (2025)
- Households and NPISHs Final consumption expenditure (current US$) 0.6869 current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), gaps 60.29 billion BoP, current US$ (2025)
- Households and NPISHs Final consumption expenditure (current US$) 4.28 % change on previous year (2025)
- General government final consumption expenditure (constant 2015 US$) 1,502 constant 2015 US$ per person (2025)
- General government final consumption expenditure (constant 2015 US$) 0.1354 constant 2015 US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0082 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 180.24 billion BoP, current US$ (2025)
Frequently asked questions
- What is insurance and financial services in Latin America & Caribbean?
- Insurance and financial services in Latin America & Caribbean was 5.5% 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 Latin America & Caribbean?
- The highest recorded value was 8.3% in 2020.
- What is the lowest insurance and financial services recorded in Latin America & Caribbean?
- The lowest recorded value was 3.1% in 1994.
- How does Latin America & Caribbean rank for insurance and financial services?
- Latin America & Caribbean ranks 20th out of 45 groups with data for 2025.
- Is insurance and financial services rising or falling in Latin America & Caribbean?
- Over the last ten years it is up 6.7%. The long-run trend across the full record is rising.
- Where does this Latin America & Caribbean 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.