Insurance and financial services in Palau
Palau: Insurance and financial services was 0.3% in 2023. ◆ Volatile
Insurance and financial services in Palau, 2005–2023
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 Palau stood at 0.3%. That is the lowest value across all 19 years on record.
Compared with earlier readings it is down 85.8% on the previous year and down 37.9% over ten years.
Over the whole period, insurance and financial services in Palau peaked at 6.2% in 2021 and was at its lowest, 0.3%, in 2023.
Palau ranks 168th of 190 countries 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 Palau, year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 2005 | 0.7% | — |
| 2006 | 0.7% | +6.8% |
| 2007 | 0.7% | -4.4% |
| 2008 | 0.6% | -13.6% |
| 2009 | 0.6% | +4.2% |
| 2010 | 0.7% | +4.4% |
| 2011 | 0.6% | -17.0% |
| 2012 | 0.5% | -7.7% |
| 2013 | 0.5% | +4.1% |
| 2014 | 0.5% | -8.1% |
| 2015 | 0.4% | -11.8% |
| 2016 | 0.6% | +35.8% |
| 2017 | 0.7% | +17.7% |
| 2018 | 0.8% | +11.5% |
| 2019 | 0.9% | +21.4% |
| 2020 | 1.7% | +81.8% |
| 2021 | 6.2% | +267.7% |
| 2022 | 2.3% | -62.8% |
| 2023 | 0.3% | -85.8% |
Palau compared with similar countries
- Palau's 0.3% is below the median for high income countries, which is 5.3%, 6% of the median. (69 countries reporting)
- Palau's 0.3% is below the median for East Asia & Pacific, which is 1.3%, 24% of the median. (29 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Palau 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 |
|---|---|---|---|
| 2021 | +267.7% | 1.7% | 6.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 0.7% | 0.6% | 0.7% | 5 |
| 2010s | 0.6% | 0.4% | 0.9% | 10 |
| 2020s | 2.6% | 0.3% | 6.2% | 4 |
Countries ranked near Palau
More economy & growth data for Palau
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.69 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 1.5 Percent per annum (2029)
- Special drawing rights per domestic currency (End-of-period (EoP)) 0.7302 (2025)
- External balance on goods and services as a percent of GDP -40.4% (2024)
- Gdp worldbank constant usd, annual growth rate 6.29 % change on previous year (2025)
- US dollar per domestic currency (End-of-period (EoP)) 1 (2025)
- Gdp worldbank constant usd, per unit of GDP 0.7995 units per US$ of GDP (2025)
- Manufacturing value added to gdp, per capita 0.0001 units per person (2024)
- Gdp worldbank constant usd, per capita 15,617 units per person (2025)
- Domestic currency per US dollar (End-of-period (EoP)) 1 (2025)
Frequently asked questions
- What is insurance and financial services in Palau?
- Insurance and financial services in Palau was 0.3% 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 Palau?
- The highest recorded value was 6.2% in 2021.
- What is the lowest insurance and financial services recorded in Palau?
- The lowest recorded value was 0.3% in 2023.
- How does Palau rank for insurance and financial services?
- Palau ranks 168th out of 190 countries with data for 2023.
- Is insurance and financial services rising or falling in Palau?
- Over the last ten years it is down 37.9%. The long-run trend across the full record is volatile.
- Where does this Palau 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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CSV · JSON — 19 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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.