Insurance and financial services in Lebanon
Lebanon: Insurance and financial services was 9.4% in 2023. ◆ Volatile
Insurance and financial services in Lebanon, 2002–2023
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service exports, BoP.
Analysis
In 2023, insurance and financial services in Lebanon stood at 9.4%.
That represents a change of up 28.9% on the previous year and down 13.9% over ten years.
Over the whole period, insurance and financial services in Lebanon peaked at 17.3% in 2016 and was at its lowest, 1.5%, in 2002.
Lebanon ranks 37th of 190 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in Lebanon, year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 2002 | 1.5% | — |
| 2003 | 1.6% | +8.8% |
| 2004 | 1.9% | +17.0% |
| 2005 | 2.5% | +32.8% |
| 2006 | 2.7% | +10.5% |
| 2007 | 2.9% | +6.7% |
| 2008 | 2.1% | -28.4% |
| 2009 | 2.1% | +1.6% |
| 2010 | 13.9% | +558.8% |
| 2011 | 16.3% | +17.3% |
| 2012 | 11.7% | -28.5% |
| 2013 | 10.9% | -6.0% |
| 2014 | 13.5% | +23.6% |
| 2015 | 15.8% | +17.1% |
| 2016 | 17.3% | +8.9% |
| 2017 | 15.2% | -12.2% |
| 2018 | 12.6% | -17.0% |
| 2019 | 7.9% | -37.5% |
| 2020 | 7.6% | -3.0% |
| 2021 | 7.7% | +0.4% |
| 2022 | 7.3% | -4.7% |
| 2023 | 9.4% | +28.9% |
Lebanon compared with similar countries
- Lebanon's 9.4% is above the median for lower middle income countries, which is 1.6%, 5.7× the median. (46 countries reporting)
- Lebanon's 9.4% is above the median for Middle East, North Africa, Afghanistan & Pakistan, which is 2.4%, 3.9× the median. (20 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Lebanon 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 |
|---|---|---|---|
| 2010 | +558.8% | 2.1% | 13.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 2.1% | 1.5% | 2.9% | 8 |
| 2010s | 13.5% | 7.9% | 17.3% | 10 |
| 2020s | 8.0% | 7.3% | 9.4% | 4 |
Countries ranked near Lebanon
More economy & growth data for Lebanon
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.87 Percent per annum (2022)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP -0 Percent per annum (2022)
- Foreign direct investment, net outflows (BoP, current US$), gaps 390.72 million BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.015 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita 67.3 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 1.84 billion BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual 181.11 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0709 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 317.35 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate 21.14 % change on previous year (2024)
Frequently asked questions
- What is insurance and financial services in Lebanon?
- Insurance and financial services in Lebanon was 9.4% in 2023, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Lebanon?
- The highest recorded value was 17.3% in 2016.
- What is the lowest insurance and financial services recorded in Lebanon?
- The lowest recorded value was 1.5% in 2002.
- How does Lebanon rank for insurance and financial services?
- Lebanon ranks 37th out of 190 countries with data for 2023.
- Is insurance and financial services rising or falling in Lebanon?
- Over the last ten years it is down 13.9%. The long-run trend across the full record is volatile.
- Where does this Lebanon 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.