Insurance and financial services in Australia
Australia: Insurance and financial services was 2.4% in 2025. ▼ Falling
Insurance and financial services in Australia, 1989–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service imports, BoP.
Analysis
Australia recorded 2.4% for insurance and financial services in 2025. That is the lowest value across all 37 years on record.
Compared with earlier readings it is down 6.4% on the previous year and down 45.1% over ten years.
Over the whole period, insurance and financial services in Australia peaked at 9.6% in 1994 and was at its lowest, 2.4%, in 2025.
Australia ranks 166th of 197 countries on this measure, in the bottom quarter.
The long-run direction has been consistently falling across the 37 years of available data.
Insurance and financial services in Australia, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1989 | 5.4% | — |
| 1990 | 5.5% | +3.3% |
| 1991 | 7.3% | +31.3% |
| 1992 | 8.3% | +14.2% |
| 1993 | 9.5% | +14.3% |
| 1994 | 9.6% | +1.2% |
| 1995 | 7.8% | -18.5% |
| 1996 | 7.0% | -9.9% |
| 1997 | 6.0% | -14.2% |
| 1998 | 5.1% | -14.7% |
| 1999 | 5.4% | +5.1% |
| 2000 | 5.2% | -3.5% |
| 2001 | 4.6% | -12.2% |
| 2002 | 4.4% | -4.8% |
| 2003 | 4.4% | +0.9% |
| 2004 | 3.9% | -12.6% |
| 2005 | 4.0% | +5.1% |
| 2006 | 4.3% | +6.0% |
| 2007 | 4.3% | +1.1% |
| 2008 | 3.6% | -18.0% |
| 2009 | 3.0% | -15.9% |
| 2010 | 3.6% | +19.4% |
| 2011 | 3.3% | -6.6% |
| 2012 | 2.9% | -12.2% |
| 2013 | 3.4% | +15.2% |
| 2014 | 4.1% | +21.8% |
| 2015 | 4.4% | +7.9% |
| 2016 | 3.8% | -13.9% |
| 2017 | 4.1% | +7.5% |
| 2018 | 3.4% | -18.0% |
| 2019 | 3.4% | +1.2% |
| 2020 | 5.3% | +56.7% |
| 2021 | 5.4% | +1.2% |
| 2022 | 3.4% | -36.6% |
| 2023 | 2.6% | -24.5% |
| 2024 | 2.6% | +0.6% |
| 2025 | 2.4% | -6.4% |
Australia compared with similar countries
- Australia's 2.4% is below the median for high income countries, which is 6.2%, 39% of the median. (72 countries reporting)
- Australia's 2.4% is below the median for East Asia & Pacific, which is 4.9%, 49% of the median. (32 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 5.4% | 5.4% | 5.4% | 1 |
| 1990s | 7.2% | 5.1% | 9.6% | 10 |
| 2000s | 4.2% | 3.0% | 5.2% | 10 |
| 2010s | 3.6% | 2.9% | 4.4% | 10 |
| 2020s | 3.6% | 2.4% | 5.4% | 6 |
Countries ranked near Australia
More economy & growth data for Australia
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.36 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.26 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps -4.55 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.0025 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita -164.69 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 36.52 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -32.02 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0203 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 1,323 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 20.24 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Australia?
- Insurance and financial services in Australia was 2.4% 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 Australia?
- The highest recorded value was 9.6% in 1994.
- What is the lowest insurance and financial services recorded in Australia?
- The lowest recorded value was 2.4% in 2025.
- How does Australia rank for insurance and financial services?
- Australia ranks 166th out of 197 countries with data for 2025.
- Is insurance and financial services rising or falling in Australia?
- Over the last ten years it is down 45.1%. The long-run trend across the full record is falling.
- Where does this Australia 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.