Insurance and financial services in Pacific island small states
Pacific island small states: Insurance and financial services was 0.8% in 2024. ◆ Volatile
Insurance and financial services in Pacific island small states, 1993–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service exports, BoP.
Analysis
In 2024, insurance and financial services in Pacific island small states stood at 0.8%.
The figure is up 24.0% on the previous year and down 22.3% over ten years.
Over the whole period, insurance and financial services in Pacific island small states peaked at 5.0% in 2000 and was at its lowest, 0.7%, in 2023.
Pacific island small states ranks 45th of 45 groups on this measure, 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 Pacific island small states, year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 1993 | 2.7% | — |
| 1994 | 2.6% | -4.5% |
| 1995 | 1.1% | -58.8% |
| 1996 | 0.8% | -24.6% |
| 1997 | 1.5% | +89.5% |
| 1998 | 4.5% | +195.7% |
| 1999 | 4.2% | -6.7% |
| 2000 | 5.0% | +19.7% |
| 2001 | 4.6% | -7.8% |
| 2002 | 1.8% | -61.8% |
| 2003 | 1.5% | -14.7% |
| 2004 | 1.7% | +10.2% |
| 2005 | 1.4% | -14.2% |
| 2006 | 1.9% | +34.4% |
| 2007 | 1.8% | -3.7% |
| 2008 | 2.0% | +8.7% |
| 2009 | 1.8% | -8.7% |
| 2010 | 1.6% | -13.6% |
| 2011 | 1.6% | -0.5% |
| 2012 | 1.5% | -2.0% |
| 2013 | 1.4% | -10.5% |
| 2014 | 1.1% | -23.3% |
| 2015 | 1.1% | +1.7% |
| 2016 | 1.0% | -10.1% |
| 2017 | 1.3% | +33.4% |
| 2018 | 0.7% | -45.5% |
| 2019 | 1.0% | +37.0% |
| 2020 | 2.0% | +108.7% |
| 2021 | 1.7% | -17.6% |
| 2022 | 0.8% | -49.4% |
| 2023 | 0.7% | -21.0% |
| 2024 | 0.8% | +24.0% |
Biggest year-on-year movements
Years where Insurance and financial services in Pacific island small states 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 |
|---|---|---|---|
| 1998 | +195.7% | 1.5% | 4.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 2.5% | 0.8% | 4.5% | 7 |
| 2000s | 2.4% | 1.4% | 5.0% | 10 |
| 2010s | 1.2% | 0.7% | 1.6% | 10 |
| 2020s | 1.2% | 0.7% | 2.0% | 5 |
Countries ranked near Pacific island small states
More economy & growth data for Pacific island small states
- Gross domestic savings 119.30 million current US$ (2024)
- GDP 11.21 billion constant 2015 US$ (2025)
- Gross capital formation (current US$), per unit of GDP 0.2321 current US$ per US$ of GDP (2024)
- Gross capital formation (current US$), per capita 1,051 current US$ per person (2024)
- GDP per capita 4,720 current US$ (2025)
- GDP per capita 4,066 constant 2015 US$ (2025)
- GDP per capita growth 2.1% (2025)
- Imports of goods and services (current US$), annual growth rate 5.47 % change on previous year (2024)
- Imports of goods and services (current US$), per unit of GDP 0.6467 current US$ per US$ of GDP (2024)
- Agriculture, forestry, and fishing, value added (constant 2015 US$) 0.1192 constant 2015 US$ per US$ of GDP (2024)
Frequently asked questions
- What is insurance and financial services in Pacific island small states?
- Insurance and financial services in Pacific island small states was 0.8% 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 Pacific island small states?
- The highest recorded value was 5.0% in 2000.
- What is the lowest insurance and financial services recorded in Pacific island small states?
- The lowest recorded value was 0.7% in 2023.
- How does Pacific island small states rank for insurance and financial services?
- Pacific island small states ranks 45th out of 45 groups with data for 2024.
- Is insurance and financial services rising or falling in Pacific island small states?
- Over the last ten years it is down 22.3%. The long-run trend across the full record is volatile.
- Where does this Pacific island small states 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.