Insurance and financial services in Armenia
Armenia: Insurance and financial services was 9.6% in 2025. ▲ Rising
Insurance and financial services in Armenia, 1993–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service imports, BoP.
Analysis
Armenia recorded 9.6% for insurance and financial services in 2025.
The figure is up 19.7% on the previous year and up 165.1% over ten years.
Over the whole period, insurance and financial services in Armenia peaked at 11.4% in 2020 and was at its lowest, 3.5%, in 2004.
That places Armenia 53rd out of 197 countries with data for 2025, putting it in the middle of the range.
The long-run direction has been consistently rising across the 33 years of available data.
Insurance and financial services in Armenia, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1993 | 8.1% | — |
| 1994 | 7.2% | -11.5% |
| 1995 | 7.1% | -1.0% |
| 1996 | 6.9% | -3.7% |
| 1997 | 6.5% | -5.1% |
| 1998 | 6.4% | -1.5% |
| 1999 | 6.7% | +4.5% |
| 2000 | 5.5% | -17.6% |
| 2001 | 3.8% | -31.0% |
| 2002 | 3.7% | -2.9% |
| 2003 | 4.5% | +20.7% |
| 2004 | 3.5% | -21.9% |
| 2005 | 4.0% | +14.2% |
| 2006 | 4.3% | +7.3% |
| 2007 | 5.4% | +25.7% |
| 2008 | 6.7% | +25.3% |
| 2009 | 5.9% | -13.0% |
| 2010 | 5.2% | -11.1% |
| 2011 | 4.8% | -7.7% |
| 2012 | 4.4% | -9.4% |
| 2013 | 4.2% | -4.1% |
| 2014 | 3.8% | -9.7% |
| 2015 | 3.6% | -3.6% |
| 2016 | 3.9% | +6.0% |
| 2017 | 3.7% | -4.6% |
| 2018 | 3.6% | -1.0% |
| 2019 | 4.9% | +35.6% |
| 2020 | 11.4% | +131.7% |
| 2021 | 9.2% | -19.7% |
| 2022 | 8.1% | -11.3% |
| 2023 | 7.5% | -7.8% |
| 2024 | 8.0% | +7.3% |
| 2025 | 9.6% | +19.7% |
Armenia compared with similar countries
- Armenia's 9.6% is above the median for upper middle income countries, which is 6.2%, 1.6× the median. (55 countries reporting)
- Armenia's 9.6% is above the median for Europe & Central Asia, which is 5.2%, 1.9× the median. (51 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Armenia 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 |
|---|---|---|---|
| 2020 | +131.7% | 4.9% | 11.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 7.0% | 6.4% | 8.1% | 7 |
| 2000s | 4.7% | 3.5% | 6.7% | 10 |
| 2010s | 4.2% | 3.6% | 5.2% | 10 |
| 2020s | 9.0% | 7.5% | 11.4% | 6 |
Countries ranked near Armenia
- 50 Turks and Caicos Islands 10.1% compare
- 51 Costa Rica 10.0% compare
- 52 United Kingdom of Great Britain and Northern Ireland 9.7% compare
- 54 Indonesia 9.5% compare
- 55 Sierra Leone 9.4% compare
- 56 Sao Tome and Principe 9.4% compare
More economy & growth data for Armenia
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 4.66 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 4.5 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 252.31 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0086 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 81.74 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 605.13 million BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 359.96 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0207 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 196.04 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 38.07 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Armenia?
- Insurance and financial services in Armenia was 9.6% in 2025, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Armenia?
- The highest recorded value was 11.4% in 2020.
- What is the lowest insurance and financial services recorded in Armenia?
- The lowest recorded value was 3.5% in 2004.
- How does Armenia rank for insurance and financial services?
- Armenia ranks 53rd out of 197 countries with data for 2025.
- Is insurance and financial services rising or falling in Armenia?
- Over the last ten years it is up 165.1%. The long-run trend across the full record is rising.
- Where does this Armenia 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.