Insurance and financial services in Azerbaijan
Azerbaijan: Insurance and financial services was 2.7% in 2025. ▲ Rising
Insurance and financial services in Azerbaijan, 1995–2025
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 Azerbaijan is 2.7%, measured in 2025.
The figure is down 12.5% on the previous year and up 46.9% over ten years.
Over the whole period, insurance and financial services in Azerbaijan peaked at 5.6% in 2007 and was at its lowest, 0.7%, in 1996.
That places Azerbaijan 158th out of 197 countries with data for 2025, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 29 years of available data.
Insurance and financial services in Azerbaijan, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1995 | 0.8% | — |
| 1996 | 0.7% | -9.2% |
| 1997 | 1.3% | +81.4% |
| 1998 | 1.0% | -25.2% |
| 2001 | 1.8% | +77.0% |
| 2002 | 1.0% | -42.2% |
| 2003 | 1.2% | +17.6% |
| 2004 | 1.3% | +12.3% |
| 2005 | 1.9% | +42.7% |
| 2006 | 4.0% | +110.9% |
| 2007 | 5.6% | +37.4% |
| 2008 | 1.7% | -70.0% |
| 2009 | 2.4% | +45.0% |
| 2010 | 3.0% | +26.2% |
| 2011 | 2.7% | -11.8% |
| 2012 | 2.3% | -12.6% |
| 2013 | 2.0% | -13.3% |
| 2014 | 1.5% | -24.0% |
| 2015 | 1.8% | +18.2% |
| 2016 | 1.7% | -5.5% |
| 2017 | 2.0% | +16.7% |
| 2018 | 3.0% | +47.7% |
| 2019 | 3.1% | +5.5% |
| 2020 | 3.1% | -1.2% |
| 2021 | 3.5% | +12.3% |
| 2022 | 3.0% | -13.4% |
| 2023 | 3.1% | +4.0% |
| 2024 | 3.1% | -2.1% |
| 2025 | 2.7% | -12.5% |
Azerbaijan compared with similar countries
- Azerbaijan's 2.7% is below the median for upper middle income countries, which is 6.2%, 44% of the median. (55 countries reporting)
- Azerbaijan's 2.7% is below the median for Europe & Central Asia, which is 5.2%, 52% of the median. (51 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 1.0% | 0.7% | 1.3% | 4 |
| 2000s | 2.3% | 1.0% | 5.6% | 9 |
| 2010s | 2.3% | 1.5% | 3.1% | 10 |
| 2020s | 3.1% | 2.7% | 3.5% | 6 |
Countries ranked near Azerbaijan
More economy & growth data for Azerbaijan
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 2.06 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.42 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 910.20 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.012 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 88.83 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 374.19 million BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 61.79 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0049 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 36.52 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 6.75 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Azerbaijan?
- Insurance and financial services in Azerbaijan was 2.7% 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 Azerbaijan?
- The highest recorded value was 5.6% in 2007.
- What is the lowest insurance and financial services recorded in Azerbaijan?
- The lowest recorded value was 0.7% in 1996.
- How does Azerbaijan rank for insurance and financial services?
- Azerbaijan ranks 158th out of 197 countries with data for 2025.
- Is insurance and financial services rising or falling in Azerbaijan?
- Over the last ten years it is up 46.9%. The long-run trend across the full record is rising.
- Where does this Azerbaijan 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
CSV · JSON — 29 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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.