Insurance and financial services in Liberia
Liberia: Insurance and financial services was 30.3% in 2024. ◆ Volatile
Insurance and financial services in Liberia, 2010–2024
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 Liberia is 30.3%, measured in 2024.
The figure is up 165.0% on the previous year and up 1,260.0% over ten years.
Over the whole period, insurance and financial services in Liberia peaked at 96.3% in 2018 and was at its lowest, 2.2%, in 2014.
Liberia ranks 6th of 190 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in Liberia, year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 2010 | 3.6% | — |
| 2011 | 3.9% | +9.2% |
| 2012 | 5.0% | +27.9% |
| 2013 | 5.4% | +9.7% |
| 2014 | 2.2% | -59.1% |
| 2015 | 2.4% | +9.5% |
| 2016 | 27.4% | +1026.3% |
| 2017 | 16.4% | -40.2% |
| 2018 | 96.3% | +486.7% |
| 2019 | 78.8% | -18.2% |
| 2020 | 10.4% | -86.8% |
| 2021 | 16.6% | +59.6% |
| 2022 | 7.5% | -54.8% |
| 2023 | 11.4% | +52.0% |
| 2024 | 30.3% | +165.0% |
Liberia compared with similar countries
- Liberia's 30.3% is above the median for low income countries, which is 2.5%, 12.1× the median. (21 countries reporting)
- Liberia's 30.3% is above the median for Sub-Saharan Africa, which is 3.1%, 9.7× the median. (45 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Liberia 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 |
|---|---|---|---|
| 2016 | +1026.3% | 2.4% | 27.4% |
| 2018 | +486.7% | 16.4% | 96.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 24.1% | 2.2% | 96.3% | 10 |
| 2020s | 15.2% | 7.5% | 30.3% | 5 |
Countries ranked near Liberia
- 3 Cayman Islands 55.2% compare
- 4 Sierra Leone 32.7% compare
- 5 Bahrain 31.3% compare
- 7 Hong Kong, China 26.9% compare
- 8 United Kingdom of Great Britain and Northern Ireland 25.0% compare
- 9 Nigeria 22.8% compare
More economy & growth data for Liberia
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 3.97 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 6.15 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 74.91 million BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0157 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita 13.35 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 471.54 million BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual 51 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0987 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 84.01 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate -7.86 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Liberia?
- Insurance and financial services in Liberia was 30.3% 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 Liberia?
- The highest recorded value was 96.3% in 2018.
- What is the lowest insurance and financial services recorded in Liberia?
- The lowest recorded value was 2.2% in 2014.
- How does Liberia rank for insurance and financial services?
- Liberia ranks 6th out of 190 countries with data for 2024.
- Is insurance and financial services rising or falling in Liberia?
- Over the last ten years it is up 1,260.0%. The long-run trend across the full record is volatile.
- Where does this Liberia 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.