Insurance and financial services in Arab World
Arab World: Insurance and financial services was 9.0% in 2024. ▲ Rising
Insurance and financial services in Arab World, 2011–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service imports, BoP.
Analysis
The most recent figure for insurance and financial services in Arab World is 9.0%, measured in 2024.
The figure is down 0.5% on the previous year and up 3.4% over ten years.
Over the whole period, insurance and financial services in Arab World peaked at 12.2% in 2021 and was at its lowest, 7.8%, in 2011.
Arab World ranks 14th of 47 groups on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 14 years of available data.
Insurance and financial services in Arab World, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 2011 | 7.8% | — |
| 2012 | 9.3% | +19.4% |
| 2013 | 9.1% | -2.3% |
| 2014 | 8.7% | -4.7% |
| 2015 | 9.1% | +4.7% |
| 2016 | 9.3% | +2.0% |
| 2017 | 9.4% | +1.9% |
| 2018 | 10.6% | +11.9% |
| 2019 | 9.9% | -6.6% |
| 2020 | 10.9% | +10.0% |
| 2021 | 12.2% | +12.5% |
| 2022 | 10.2% | -16.7% |
| 2023 | 9.0% | -11.3% |
| 2024 | 9.0% | -0.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 9.2% | 7.8% | 10.6% | 9 |
| 2020s | 10.3% | 9.0% | 12.2% | 5 |
Countries ranked near Arab World
- 11 Congo, Democratic Republic of the 18.2% compare
- 12 Trinidad and Tobago 17.9% compare
- 13 Bermuda 17.6% compare
- 14 Panama 17.5% compare
- 15 Cyprus 17.0% compare
- 16 Burkina Faso 16.1% compare
- 17 Nicaragua 15.9% compare
More economy & growth data for Arab World
- Foreign direct investment, net inflows (BoP, current US$), per capita 109.61 BoP, current US$ per person (2025)
- General government final consumption expenditure (constant 2015 US$) 1,228 constant 2015 US$ per person (2025)
- General government final consumption expenditure (constant 2015 US$) 0.1627 constant 2015 US$ per US$ of GDP (2025)
- General government final consumption expenditure (constant 2015 US$) -0.4924 % change on previous year (2025)
- General government final consumption expenditure (current US$), per 1,308 current US$ per person (2025)
- General government final consumption expenditure (current US$), per 0.1733 current US$ per US$ of GDP (2025)
- General government final consumption expenditure (current US$) 0.6095 % change on previous year (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0092 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 69.31 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 55.18 billion BoP, current US$ (2025)
Frequently asked questions
- What is insurance and financial services in Arab World?
- Insurance and financial services in Arab World was 9.0% 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 Arab World?
- The highest recorded value was 12.2% in 2021.
- What is the lowest insurance and financial services recorded in Arab World?
- The lowest recorded value was 7.8% in 2011.
- How does Arab World rank for insurance and financial services?
- Arab World ranks 14th out of 47 groups with data for 2024.
- Is insurance and financial services rising or falling in Arab World?
- Over the last ten years it is up 3.4%. The long-run trend across the full record is rising.
- Where does this Arab World 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.
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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.