Insurance and financial services in Latin America & the Caribbean (IDA & IBRD countries)
Latin America & the Caribbean (IDA & IBRD countries): Insurance and financial services was 5.5% in 2025. ▲ Rising
Insurance and financial services in Latin America & the Caribbean (IDA & IBRD countries), 1979–2025
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 Latin America & the Caribbean (IDA & IBRD countries) stood at 5.5%.
The figure is down 1.3% on the previous year and up 4.0% over ten years.
Over the whole period, insurance and financial services in Latin America & the Caribbean (IDA & IBRD countries) peaked at 6.9% in 2020 and was at its lowest, 3.1%, in 1994.
Latin America & the Caribbean (IDA & IBRD countries) 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 & the Caribbean (IDA & IBRD countries), 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 | 4.9% | -23.1% |
| 1987 | 4.9% | -0.8% |
| 1988 | 5.6% | +16.0% |
| 1989 | 4.0% | -28.3% |
| 1990 | 3.7% | -9.1% |
| 1991 | 3.5% | -4.6% |
| 1992 | 3.7% | +6.1% |
| 1993 | 4.5% | +22.1% |
| 1994 | 3.1% | -30.8% |
| 1995 | 5.5% | +75.1% |
| 1996 | 4.1% | -24.8% |
| 1997 | 3.6% | -11.9% |
| 1998 | 5.8% | +59.3% |
| 1999 | 5.5% | -5.4% |
| 2000 | 6.7% | +22.8% |
| 2001 | 5.5% | -19.0% |
| 2002 | 6.0% | +10.3% |
| 2003 | 4.8% | -20.2% |
| 2004 | 3.9% | -19.1% |
| 2005 | 4.5% | +16.7% |
| 2006 | 4.6% | +1.2% |
| 2007 | 6.0% | +31.7% |
| 2008 | 5.8% | -3.3% |
| 2009 | 5.7% | -3.1% |
| 2010 | 5.7% | -0.2% |
| 2011 | 6.2% | +9.0% |
| 2012 | 5.7% | -8.2% |
| 2013 | 6.1% | +7.2% |
| 2014 | 5.2% | -13.7% |
| 2015 | 5.2% | +0.2% |
| 2016 | 4.7% | -10.3% |
| 2017 | 5.1% | +8.7% |
| 2018 | 4.6% | -10.3% |
| 2019 | 4.8% | +4.8% |
| 2020 | 6.9% | +42.6% |
| 2021 | 6.3% | -8.1% |
| 2022 | 5.3% | -16.3% |
| 2023 | 5.2% | -1.0% |
| 2024 | 5.5% | +5.9% |
| 2025 | 5.5% | -1.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 5.2% | 5.2% | 5.2% | 1 |
| 1980s | 5.6% | 4.0% | 6.8% | 10 |
| 1990s | 4.3% | 3.1% | 5.8% | 10 |
| 2000s | 5.4% | 3.9% | 6.7% | 10 |
| 2010s | 5.3% | 4.6% | 6.2% | 10 |
| 2020s | 5.8% | 5.2% | 6.9% | 6 |
Countries ranked near Latin America & the Caribbean (IDA & IBRD countries)
More economy & growth data for Latin America & the Caribbean (IDA & IBRD countries)
- Households and NPISHs Final consumption expenditure (current US$) 4.26 % change on previous year (2025)
- General government final consumption expenditure (current US$), per 1,700 current US$ per person (2025)
- General government final consumption expenditure (constant 2015 US$) 2.17 % change on previous year (2025)
- General government final consumption expenditure (constant 2015 US$) 0.136 constant 2015 US$ per US$ of GDP (2025)
- General government final consumption expenditure (constant 2015 US$) 1,472 constant 2015 US$ per person (2025)
- Households and NPISHs Final consumption expenditure (current US$) 7,460 current US$ per person (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 0.5831 constant 2015 US$ per US$ of GDP (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 2.48 % change on previous year (2025)
- General government final consumption expenditure (current US$), per 0.157 current US$ per US$ of GDP (2025)
- Households and NPISHs Final consumption expenditure (current US$) 0.6893 current US$ per US$ of GDP (2025)
All data for Latin America & the Caribbean (IDA & IBRD countries) →
Frequently asked questions
- What is insurance and financial services in Latin America & the Caribbean (IDA & IBRD countries)?
- Insurance and financial services in Latin America & the Caribbean (IDA & IBRD countries) 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 & the Caribbean (IDA & IBRD countries)?
- The highest recorded value was 6.9% in 2020.
- What is the lowest insurance and financial services recorded in Latin America & the Caribbean (IDA & IBRD countries)?
- The lowest recorded value was 3.1% in 1994.
- How does Latin America & the Caribbean (IDA & IBRD countries) rank for insurance and financial services?
- Latin America & the Caribbean (IDA & IBRD countries) ranks 20th out of 45 groups with data for 2025.
- Is insurance and financial services rising or falling in Latin America & the Caribbean (IDA & IBRD countries)?
- Over the last ten years it is up 4.0%. The long-run trend across the full record is rising.
- Where does this Latin America & the Caribbean (IDA & IBRD countries) 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
CSV · JSON — 47 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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.