Insurance and financial services in Middle East, North Africa, Afghanistan & Pakistan (excluding high income)
Middle East, North Africa, Afghanistan & Pakistan (excluding high income): Insurance and financial services was 3.0% in 2023. ▲ Rising
Insurance and financial services in Middle East, North Africa, Afghanistan & Pakistan (excluding high income), 1983–2023
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 Middle East, North Africa, Afghanistan & Pakistan (excluding high income) stood at 3.0%.
Compared with earlier readings it is up 23.9% on the previous year and down 29.4% over ten years.
Over the whole period, insurance and financial services in Middle East, North Africa, Afghanistan & Pakistan (excluding high income) peaked at 5.9% in 2015 and was at its lowest, 1.3%, in 1990.
That places Middle East, North Africa, Afghanistan & Pakistan (excluding high income) 31st out of 45 groups with data for 2023, putting it in the middle of the range.
The long-run direction has been consistently rising across the 26 years of available data.
Insurance and financial services in Middle East, North Africa, Afghanistan & Pakistan (excluding high income), year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 1983 | 2.6% | — |
| 1984 | 3.3% | +27.2% |
| 1985 | 3.3% | +0.1% |
| 1986 | 2.9% | -13.3% |
| 1987 | 3.0% | +4.6% |
| 1988 | 2.3% | -23.8% |
| 1989 | 2.5% | +9.7% |
| 1990 | 1.3% | -49.2% |
| 1991 | 2.4% | +93.0% |
| 2005 | 2.7% | +9.8% |
| 2006 | 1.9% | -30.3% |
| 2008 | 2.3% | +21.7% |
| 2009 | 2.3% | -0.5% |
| 2010 | 4.2% | +86.0% |
| 2012 | 4.0% | -4.4% |
| 2013 | 4.2% | +5.4% |
| 2014 | 4.3% | +0.8% |
| 2015 | 5.9% | +39.0% |
| 2016 | 5.9% | -0.4% |
| 2017 | 4.7% | -21.3% |
| 2018 | 3.7% | -20.0% |
| 2019 | 2.9% | -21.1% |
| 2020 | 3.1% | +5.8% |
| 2021 | 3.0% | -3.3% |
| 2022 | 2.4% | -19.6% |
| 2023 | 3.0% | +23.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 2.8% | 2.3% | 3.3% | 7 |
| 1990s | 1.9% | 1.3% | 2.4% | 2 |
| 2000s | 2.3% | 1.9% | 2.7% | 4 |
| 2010s | 4.4% | 2.9% | 5.9% | 9 |
| 2020s | 2.9% | 2.4% | 3.1% | 4 |
Countries ranked near Middle East, North Africa, Afghanistan & Pakistan (excluding high income)
- 28 Guyana 10.4% compare
- 29 Kenya 10.3% compare
- 30 Tajikistan 10.2% compare
- 31 Panama 9.8% compare
- 32 South Sudan 9.8% compare
- 33 Canada 9.7% compare
- 34 South Africa 9.7% compare
More economy & growth data for Middle East, North Africa, Afghanistan & Pakistan (excluding high income)
- Households and NPISHs Final consumption expenditure (current US$) 2.52 % change on previous year (2025)
- General government final consumption expenditure (current US$), per 390.32 current US$ per person (2025)
- General government final consumption expenditure (constant 2015 US$) 3.31 % change on previous year (2025)
- General government final consumption expenditure (constant 2015 US$) 0.1599 constant 2015 US$ per US$ of GDP (2025)
- General government final consumption expenditure (constant 2015 US$) 452.38 constant 2015 US$ per person (2025)
- Households and NPISHs Final consumption expenditure (current US$) 1,931 current US$ per person (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 0.7447 constant 2015 US$ per US$ of GDP (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 4.11 % change on previous year (2025)
- General government final consumption expenditure (current US$), per 0.138 current US$ per US$ of GDP (2025)
- Households and NPISHs Final consumption expenditure (current US$) 0.6825 current US$ per US$ of GDP (2025)
All data for Middle East, North Africa, Afghanistan & Pakistan (excluding high income) →
Frequently asked questions
- What is insurance and financial services in Middle East, North Africa, Afghanistan & Pakistan (excluding high income)?
- Insurance and financial services in Middle East, North Africa, Afghanistan & Pakistan (excluding high income) was 3.0% 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 Middle East, North Africa, Afghanistan & Pakistan (excluding high income)?
- The highest recorded value was 5.9% in 2015.
- What is the lowest insurance and financial services recorded in Middle East, North Africa, Afghanistan & Pakistan (excluding high income)?
- The lowest recorded value was 1.3% in 1990.
- How does Middle East, North Africa, Afghanistan & Pakistan (excluding high income) rank for insurance and financial services?
- Middle East, North Africa, Afghanistan & Pakistan (excluding high income) ranks 31st out of 45 groups with data for 2023.
- Is insurance and financial services rising or falling in Middle East, North Africa, Afghanistan & Pakistan (excluding high income)?
- Over the last ten years it is down 29.4%. The long-run trend across the full record is rising.
- Where does this Middle East, North Africa, Afghanistan & Pakistan (excluding high income) 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.