Insurance and financial services in Africa Eastern and Southern
Africa Eastern and Southern: Insurance and financial services was 8.4% in 2024. ▼ Falling
Insurance and financial services in Africa Eastern and Southern, 1977–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service imports, BoP.
Analysis
In 2024, insurance and financial services in Africa Eastern and Southern stood at 8.4%.
The figure is up 23.3% on the previous year and up 96.0% over ten years.
Over the whole period, insurance and financial services in Africa Eastern and Southern peaked at 9.8% in 1977 and was at its lowest, 3.8%, in 2012.
Africa Eastern and Southern ranks 19th of 47 groups on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 48 years of available data.
Insurance and financial services in Africa Eastern and Southern, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1977 | 9.8% | — |
| 1978 | 9.1% | -6.9% |
| 1979 | 8.8% | -3.4% |
| 1980 | 8.8% | -0.3% |
| 1981 | 8.8% | +0.7% |
| 1982 | 8.6% | -2.9% |
| 1983 | 9.2% | +7.2% |
| 1984 | 9.0% | -1.9% |
| 1985 | 7.8% | -13.8% |
| 1986 | 8.3% | +7.1% |
| 1987 | 7.5% | -10.1% |
| 1988 | 6.2% | -17.4% |
| 1989 | 6.2% | +0.2% |
| 1990 | 6.6% | +6.6% |
| 1991 | 5.5% | -16.2% |
| 1992 | 5.8% | +5.4% |
| 1993 | 5.9% | +0.7% |
| 1994 | 6.3% | +7.1% |
| 1995 | 8.3% | +31.6% |
| 1996 | 5.9% | -28.7% |
| 1997 | 6.1% | +3.5% |
| 1998 | 5.6% | -8.8% |
| 1999 | 5.2% | -7.4% |
| 2000 | 4.7% | -9.3% |
| 2001 | 4.9% | +5.2% |
| 2002 | 4.7% | -5.5% |
| 2003 | 5.3% | +13.7% |
| 2004 | 5.6% | +6.6% |
| 2005 | 5.4% | -4.4% |
| 2006 | 5.4% | -0.4% |
| 2007 | 4.9% | -9.6% |
| 2008 | 6.2% | +28.0% |
| 2009 | 4.1% | -34.3% |
| 2010 | 4.9% | +19.3% |
| 2011 | 3.9% | -20.4% |
| 2012 | 3.8% | -2.0% |
| 2013 | 4.7% | +24.8% |
| 2014 | 4.3% | -9.8% |
| 2015 | 4.7% | +9.8% |
| 2016 | 4.9% | +3.8% |
| 2017 | 6.2% | +27.6% |
| 2018 | 6.0% | -4.2% |
| 2019 | 5.9% | -0.7% |
| 2020 | 7.0% | +17.5% |
| 2021 | 6.9% | -0.8% |
| 2022 | 6.3% | -8.6% |
| 2023 | 6.8% | +7.9% |
| 2024 | 8.4% | +23.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 9.2% | 8.8% | 9.8% | 3 |
| 1980s | 8.0% | 6.2% | 9.2% | 10 |
| 1990s | 6.1% | 5.2% | 8.3% | 10 |
| 2000s | 5.1% | 4.1% | 6.2% | 10 |
| 2010s | 4.9% | 3.8% | 6.2% | 10 |
| 2020s | 7.1% | 6.3% | 8.4% | 5 |
Countries ranked near Africa Eastern and Southern
More economy & growth data for Africa Eastern and Southern
- General government final consumption expenditure (current US$), per 0.1486 current US$ per US$ of GDP (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 4.06 % change on previous year (2025)
- Households and NPISHs Final consumption expenditure (current US$) 1,159 current US$ per person (2025)
- Households and NPISHs Final consumption expenditure (current US$) 0.6726 current US$ per US$ of GDP (2025)
- Households and NPISHs Final consumption expenditure (current US$) 6.75 % change on previous year (2025)
- General government final consumption expenditure (constant 2015 US$) 226.14 constant 2015 US$ per person (2025)
- General government final consumption expenditure (constant 2015 US$) 0.1313 constant 2015 US$ per US$ of GDP (2025)
- General government final consumption expenditure (constant 2015 US$) 3.39 % change on previous year (2025)
- General government final consumption expenditure (current US$), per 255.93 current US$ per person (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.0029 BoP, current US$ per US$ of GDP (2025)
Frequently asked questions
- What is insurance and financial services in Africa Eastern and Southern?
- Insurance and financial services in Africa Eastern and Southern was 8.4% 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 Africa Eastern and Southern?
- The highest recorded value was 9.8% in 1977.
- What is the lowest insurance and financial services recorded in Africa Eastern and Southern?
- The lowest recorded value was 3.8% in 2012.
- How does Africa Eastern and Southern rank for insurance and financial services?
- Africa Eastern and Southern ranks 19th out of 47 groups with data for 2024.
- Is insurance and financial services rising or falling in Africa Eastern and Southern?
- Over the last ten years it is up 96.0%. The long-run trend across the full record is falling.
- Where does this Africa Eastern and Southern 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 imports, 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 imports which are services provided by non-residents to residents.