Insurance and financial services in Least developed countries
Least developed countries: Insurance and financial services was 1.7% in 2024. ▲ Rising
Insurance and financial services in Least developed countries, 1986–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service exports, BoP.
Analysis
In 2024, insurance and financial services in Least developed countries stood at 1.7%.
Compared with earlier readings it is down 24.0% over ten years.
Over the whole period, insurance and financial services in Least developed countries peaked at 3.9% in 2012 and was at its lowest, 1.6%, in 1990.
Least developed countries ranks 42nd of 45 groups on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 16 years of available data.
Insurance and financial services in Least developed countries, year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 1986 | 2.1% | — |
| 1988 | 2.3% | +8.8% |
| 1989 | 2.1% | -8.5% |
| 1990 | 1.6% | -20.5% |
| 1992 | 1.9% | +13.0% |
| 2001 | 2.7% | +45.0% |
| 2003 | 1.7% | -37.7% |
| 2012 | 3.9% | +133.9% |
| 2013 | 2.0% | -49.0% |
| 2014 | 2.2% | +11.3% |
| 2015 | 2.2% | -3.3% |
| 2016 | 2.3% | +8.6% |
| 2017 | 2.0% | -13.5% |
| 2018 | 2.0% | +0.1% |
| 2019 | 1.7% | -14.5% |
| 2024 | 1.7% | -2.2% |
Biggest year-on-year movements
Years where Insurance and financial services in Least developed countries 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 |
|---|---|---|---|
| 2012 | +133.9% | 1.7% | 3.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 2.1% | 2.1% | 2.3% | 3 |
| 1990s | 1.8% | 1.6% | 1.9% | 2 |
| 2000s | 2.2% | 1.7% | 2.7% | 2 |
| 2010s | 2.3% | 1.7% | 3.9% | 8 |
| 2020s | 1.7% | 1.7% | 1.7% | 1 |
Countries ranked near Least developed countries
More economy & growth data for Least developed countries
- General government final consumption expenditure (current US$) 10.13 % change on previous year (2025)
- Households and NPISHs Final consumption expenditure (current US$) 0.7176 current US$ per US$ of GDP (2025)
- Households and NPISHs Final consumption expenditure (current US$) 5.27 % change on previous year (2025)
- General government final consumption expenditure (constant 2015 US$) 116.01 constant 2015 US$ per person (2025)
- General government final consumption expenditure (constant 2015 US$) 0.0852 constant 2015 US$ per US$ of GDP (2025)
- General government final consumption expenditure (constant 2015 US$) 5.81 % change on previous year (2025)
- General government final consumption expenditure (current US$), per 141.86 current US$ per person (2025)
- General government final consumption expenditure (current US$), per 0.1042 current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0002 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 0.2287 BoP, current US$ per person (2025)
Frequently asked questions
- What is insurance and financial services in Least developed countries?
- Insurance and financial services in Least developed countries was 1.7% 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 Least developed countries?
- The highest recorded value was 3.9% in 2012.
- What is the lowest insurance and financial services recorded in Least developed countries?
- The lowest recorded value was 1.6% in 1990.
- How does Least developed countries rank for insurance and financial services?
- Least developed countries ranks 42nd out of 45 groups with data for 2024.
- Is insurance and financial services rising or falling in Least developed countries?
- Over the last ten years it is down 24.0%. The long-run trend across the full record is rising.
- Where does this Least developed 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
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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.