Insurance and financial services in Myanmar
Myanmar: Insurance and financial services was 0.2% in 2019. ◆ Volatile
Insurance and financial services in Myanmar, 1976–2019
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service exports, BoP.
Analysis
Myanmar recorded 0.2% for insurance and financial services in 2019.
Compared with earlier readings it is up 5.0% on the previous year and down 47.0% over ten years.
Over the whole period, insurance and financial services in Myanmar peaked at 12.3% in 1979 and was at its lowest, 0.0%, in 2013.
That places Myanmar 176th out of 190 countries with data for 2019, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in Myanmar, year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 1976 | 0.7% | — |
| 1977 | 0.6% | -15.1% |
| 1978 | 2.7% | +358.9% |
| 1979 | 12.3% | +349.7% |
| 1980 | 2.3% | -81.6% |
| 1981 | 0.2% | -89.4% |
| 1982 | 0.3% | +25.1% |
| 1983 | 1.5% | +385.8% |
| 1984 | 0.2% | -89.7% |
| 1986 | 0.0% | -72.5% |
| 1990 | 0.5% | +1105.7% |
| 1992 | 0.0% | -94.2% |
| 2012 | 0.3% | +972.4% |
| 2013 | 0.0% | -99.6% |
| 2014 | 0.2% | +14570.7% |
| 2015 | 0.2% | -12.0% |
| 2016 | 0.7% | +319.5% |
| 2017 | 0.4% | -42.8% |
| 2018 | 0.2% | -61.6% |
| 2019 | 0.2% | +5.0% |
Myanmar compared with similar countries
- Myanmar's 0.2% is below the median for lower middle income countries, which is 1.6%, 10% of the median. (46 countries reporting)
- Myanmar's 0.2% is below the median for East Asia & Pacific, which is 1.3%, 12% of the median. (29 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Myanmar 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 |
|---|---|---|---|
| 2014 | +14570.7% | 0.0% | 0.2% |
| 1990 | +1105.7% | 0.0% | 0.5% |
| 2012 | +972.4% | 0.0% | 0.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 4.1% | 0.6% | 12.3% | 4 |
| 1980s | 0.7% | 0.0% | 2.3% | 6 |
| 1990s | 0.3% | 0.0% | 0.5% | 2 |
| 2010s | 0.3% | 0.0% | 0.7% | 8 |
Countries ranked near Myanmar
- 173 New Zealand 0.2% compare
- 174 Seychelles 0.2% compare
- 175 Republic of Moldova 0.2% compare
- 177 Lesotho 0.2% compare
- 178 North Macedonia 0.1% compare
- 179 Iraq 0.1% compare
More economy & growth data for Myanmar
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.44 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.01 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 0 BoP, current US$ (1989)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0 BoP, current US$ per US$ of GDP (1989)
- Foreign direct investment, net outflows (BoP, current US$), per capita 0 BoP, current US$ per person (1989)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 1.10 billion BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual -27.95 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0148 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 20.1 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate 14.13 % change on previous year (2023)
Frequently asked questions
- What is insurance and financial services in Myanmar?
- Insurance and financial services in Myanmar was 0.2% in 2019, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Myanmar?
- The highest recorded value was 12.3% in 1979.
- What is the lowest insurance and financial services recorded in Myanmar?
- The lowest recorded value was 0.0% in 2013.
- How does Myanmar rank for insurance and financial services?
- Myanmar ranks 176th out of 190 countries with data for 2019.
- Is insurance and financial services rising or falling in Myanmar?
- Over the last ten years it is down 47.0%. The long-run trend across the full record is volatile.
- Where does this Myanmar 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.