Insurance and financial services in Ukraine
Ukraine: Insurance and financial services was 2.1% in 2024. ◆ Volatile
Insurance and financial services in Ukraine, 1994–2024
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 Ukraine stood at 2.1%.
Compared with earlier readings it is up 12.5% on the previous year and up 34.8% over ten years.
Over the whole period, insurance and financial services in Ukraine peaked at 6.6% in 1994 and was at its lowest, 0.4%, in 1999.
Ukraine ranks 106th of 190 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in Ukraine, year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 1994 | 6.6% | — |
| 1995 | 2.6% | -60.8% |
| 1996 | 0.5% | -79.3% |
| 1997 | 0.7% | +23.8% |
| 1998 | 0.5% | -22.9% |
| 1999 | 0.4% | -16.5% |
| 2000 | 0.6% | +32.9% |
| 2001 | 0.5% | -11.9% |
| 2002 | 0.5% | -9.4% |
| 2003 | 0.6% | +27.3% |
| 2004 | 0.5% | -18.1% |
| 2005 | 0.6% | +23.5% |
| 2006 | 1.2% | +110.8% |
| 2007 | 2.7% | +117.3% |
| 2008 | 2.9% | +6.5% |
| 2009 | 2.8% | -3.3% |
| 2010 | 2.8% | +0.4% |
| 2011 | 1.7% | -39.7% |
| 2012 | 1.4% | -17.8% |
| 2013 | 1.7% | +25.4% |
| 2014 | 1.6% | -8.6% |
| 2015 | 1.6% | +4.3% |
| 2016 | 0.9% | -47.6% |
| 2017 | 1.1% | +32.3% |
| 2018 | 1.1% | -7.3% |
| 2019 | 1.0% | -2.3% |
| 2020 | 0.9% | -9.6% |
| 2021 | 0.7% | -28.2% |
| 2022 | 1.2% | +82.6% |
| 2023 | 1.9% | +54.3% |
| 2024 | 2.1% | +12.4% |
Ukraine compared with similar countries
- Ukraine's 2.1% is above the median for upper middle income countries, which is 1.8%, 1.2× the median. (53 countries reporting)
- Ukraine's 2.1% is below the median for Europe & Central Asia, which is 3.5%, 60% of the median. (51 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 1.9% | 0.4% | 6.6% | 6 |
| 2000s | 1.3% | 0.5% | 2.9% | 10 |
| 2010s | 1.5% | 0.9% | 2.8% | 10 |
| 2020s | 1.4% | 0.7% | 2.1% | 5 |
Countries ranked near Ukraine
More economy & growth data for Ukraine
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 4.93 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 4.2 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 305.00 million BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0016 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita 8.06 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 4.02 billion BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual -12.12 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0211 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 106.13 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate 30.81 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Ukraine?
- Insurance and financial services in Ukraine was 2.1% 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 Ukraine?
- The highest recorded value was 6.6% in 1994.
- What is the lowest insurance and financial services recorded in Ukraine?
- The lowest recorded value was 0.4% in 1999.
- How does Ukraine rank for insurance and financial services?
- Ukraine ranks 106th out of 190 countries with data for 2024.
- Is insurance and financial services rising or falling in Ukraine?
- Over the last ten years it is up 34.8%. The long-run trend across the full record is volatile.
- Where does this Ukraine 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.