Insurance and financial services in Türkiye
Türkiye: Insurance and financial services was 2.5% in 2024. ▲ Rising
Insurance and financial services in Türkiye, 1974–2024
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 Türkiye stood at 2.5%.
That represents a change of down 23.3% on the previous year and down 7.3% over ten years.
Over the whole period, insurance and financial services in Türkiye peaked at 4.3% in 2008 and was at its lowest, 0.4%, in 1979.
Türkiye ranks 97th of 190 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 43 years of available data.
Insurance and financial services in Türkiye, year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 1974 | 1.1% | — |
| 1975 | 1.2% | +11.8% |
| 1976 | 2.2% | +85.1% |
| 1977 | 1.7% | -24.2% |
| 1978 | 0.7% | -55.5% |
| 1979 | 0.4% | -52.5% |
| 1980 | 0.4% | +18.5% |
| 1981 | 2.2% | +430.6% |
| 1982 | 3.7% | +67.0% |
| 1983 | 2.9% | -22.2% |
| 1992 | 1.6% | -44.1% |
| 1993 | 1.6% | +0.4% |
| 1994 | 1.2% | -25.2% |
| 1995 | 1.5% | +23.8% |
| 1996 | 2.4% | +61.1% |
| 1997 | 1.8% | -24.4% |
| 1998 | 2.2% | +19.5% |
| 1999 | 2.1% | -3.0% |
| 2000 | 2.1% | -3.6% |
| 2001 | 2.3% | +14.1% |
| 2002 | 1.8% | -24.5% |
| 2003 | 2.8% | +57.0% |
| 2004 | 2.4% | -12.6% |
| 2005 | 2.4% | -1.4% |
| 2006 | 3.1% | +27.5% |
| 2007 | 3.5% | +13.0% |
| 2008 | 4.3% | +24.4% |
| 2009 | 3.2% | -25.6% |
| 2010 | 3.3% | +3.7% |
| 2011 | 3.3% | -0.6% |
| 2012 | 2.8% | -14.9% |
| 2013 | 2.3% | -17.2% |
| 2014 | 2.7% | +15.4% |
| 2015 | 2.6% | -3.1% |
| 2016 | 2.6% | -0.2% |
| 2017 | 3.1% | +19.6% |
| 2018 | 2.8% | -9.9% |
| 2019 | 2.5% | -12.1% |
| 2020 | 3.4% | +38.8% |
| 2021 | 2.2% | -35.0% |
| 2022 | 1.7% | -24.0% |
| 2023 | 3.2% | +92.5% |
| 2024 | 2.5% | -23.3% |
Türkiye compared with similar countries
- Türkiye's 2.5% is above the median for upper middle income countries, which is 1.8%, 1.4× the median. (53 countries reporting)
- Türkiye's 2.5% is below the median for Europe & Central Asia, which is 3.5%, 70% of the median. (51 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Türkiye 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 |
|---|---|---|---|
| 1981 | +430.6% | 0.4% | 2.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 1.2% | 0.4% | 2.2% | 6 |
| 1980s | 2.3% | 0.4% | 3.7% | 4 |
| 1990s | 1.8% | 1.2% | 2.4% | 8 |
| 2000s | 2.8% | 1.8% | 4.3% | 10 |
| 2010s | 2.8% | 2.3% | 3.3% | 10 |
| 2020s | 2.6% | 1.7% | 3.4% | 5 |
Countries ranked near Türkiye
- 94 Saint Vincent and the Grenadines 2.7% compare
- 95 El Salvador 2.6% compare
- 96 Uganda 2.5% compare
- 98 Malaysia 2.5% compare
- 99 San Marino 2.4% compare
- 100 Uzbekistan 2.4% compare
More economy & growth data for Türkiye
- Foreign direct investment, net outflows (BoP, current US$), gaps 6.61 billion BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0049 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita 77.33 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 11.70 billion BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual 9.77 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0086 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 136.79 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate 19.3 % change on previous year (2025)
- Total reserves (includes gold, current US$), per unit of GDP 0.1162 includes gold, current US$ per US$ of GDP (2025)
- Total reserves (includes gold, current US$), per capita 2,161 includes gold, current US$ per person (2025)
Frequently asked questions
- What is insurance and financial services in Türkiye?
- Insurance and financial services in Türkiye 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 Türkiye?
- The highest recorded value was 4.3% in 2008.
- What is the lowest insurance and financial services recorded in Türkiye?
- The lowest recorded value was 0.4% in 1979.
- How does Türkiye rank for insurance and financial services?
- Türkiye ranks 97th out of 190 countries with data for 2024.
- Is insurance and financial services rising or falling in Türkiye?
- Over the last ten years it is down 7.3%. The long-run trend across the full record is rising.
- Where does this Türkiye 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.