Insurance and financial services in Malaysia
Malaysia: Insurance and financial services was 2.5% in 2024. ◆ Volatile
Insurance and financial services in Malaysia, 1974–2024
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 Malaysia is 2.5%, measured in 2024.
The figure is down 6.1% on the previous year and up 28.1% over ten years.
Over the whole period, insurance and financial services in Malaysia peaked at 5.0% in 2021 and was at its lowest, 0.0%, in 1984.
Malaysia ranks 98th of 190 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in Malaysia, year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 1974 | 0.2% | — |
| 1975 | 0.2% | -8.7% |
| 1976 | 0.2% | -3.1% |
| 1977 | 0.2% | +25.6% |
| 1978 | 0.6% | +149.4% |
| 1979 | 0.8% | +21.5% |
| 1980 | 0.6% | -19.3% |
| 1981 | 0.1% | -83.7% |
| 1982 | 0.1% | -45.2% |
| 1983 | 0.0% | -14.2% |
| 1984 | 0.0% | -5.1% |
| 1985 | 0.1% | +88.6% |
| 1986 | 0.1% | -6.1% |
| 1987 | 0.1% | -10.7% |
| 1988 | 0.1% | +37.9% |
| 1989 | 0.1% | -6.5% |
| 1990 | 0.1% | -25.5% |
| 1991 | 0.1% | +11.6% |
| 1992 | 0.1% | -5.3% |
| 1993 | 0.1% | +2.7% |
| 1994 | 0.1% | -4.4% |
| 1999 | 2.4% | +3330.0% |
| 2000 | 2.2% | -5.6% |
| 2001 | 2.6% | +14.3% |
| 2002 | 1.4% | -46.2% |
| 2003 | 2.4% | +75.8% |
| 2004 | 2.2% | -10.4% |
| 2005 | 1.7% | -21.5% |
| 2006 | 1.7% | -0.2% |
| 2007 | 1.5% | -10.4% |
| 2008 | 1.5% | -2.8% |
| 2009 | 1.7% | +11.4% |
| 2010 | 1.5% | -8.4% |
| 2011 | 2.0% | +34.6% |
| 2012 | 2.1% | +3.8% |
| 2013 | 1.8% | -14.2% |
| 2014 | 1.9% | +5.6% |
| 2015 | 2.0% | +5.4% |
| 2016 | 2.3% | +12.7% |
| 2017 | 2.2% | -2.4% |
| 2018 | 2.3% | +2.4% |
| 2019 | 2.4% | +6.4% |
| 2020 | 4.7% | +94.9% |
| 2021 | 5.0% | +6.6% |
| 2022 | 3.7% | -26.6% |
| 2023 | 2.6% | -29.2% |
| 2024 | 2.5% | -6.1% |
Malaysia compared with similar countries
- Malaysia's 2.5% is above the median for upper middle income countries, which is 1.8%, 1.4× the median. (53 countries reporting)
- Malaysia's 2.5% is above the median for East Asia & Pacific, which is 1.3%, 1.8× the median. (29 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Malaysia 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 |
|---|---|---|---|
| 1999 | +3330.0% | 0.1% | 2.4% |
| 1978 | +149.4% | 0.2% | 0.6% |
| 2020 | +94.9% | 2.4% | 4.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 0.4% | 0.2% | 0.8% | 6 |
| 1980s | 0.1% | 0.0% | 0.6% | 10 |
| 1990s | 0.5% | 0.1% | 2.4% | 6 |
| 2000s | 1.9% | 1.4% | 2.6% | 10 |
| 2010s | 2.1% | 1.5% | 2.4% | 10 |
| 2020s | 3.7% | 2.5% | 5.0% | 5 |
Countries ranked near Malaysia
- 95 El Salvador 2.6% compare
- 96 Uganda 2.5% compare
- 97 Türkiye 2.5% compare
- 99 San Marino 2.4% compare
- 100 Uzbekistan 2.4% compare
- 101 Bangladesh 2.3% compare
More economy & growth data for Malaysia
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 3.04 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 3.97 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 13.04 billion BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0309 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita 366.69 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 15.59 billion BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual 96.92 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0369 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 438.53 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate 8.09 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Malaysia?
- Insurance and financial services in Malaysia was 2.5% 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 Malaysia?
- The highest recorded value was 5.0% in 2021.
- What is the lowest insurance and financial services recorded in Malaysia?
- The lowest recorded value was 0.0% in 1984.
- How does Malaysia rank for insurance and financial services?
- Malaysia ranks 98th out of 190 countries with data for 2024.
- Is insurance and financial services rising or falling in Malaysia?
- Over the last ten years it is up 28.1%. The long-run trend across the full record is volatile.
- Where does this Malaysia 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.