Insurance and financial services in Belarus
Belarus: Insurance and financial services was 3.8% in 2021. ▲ Rising
Insurance and financial services in Belarus, 1993–2021
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 Belarus is 3.8%, measured in 2021.
That represents a change of down 28.9% on the previous year and down 30.1% over ten years.
Over the whole period, insurance and financial services in Belarus peaked at 11.3% in 1993 and was at its lowest, 0.8%, in 2003.
Belarus ranks 138th of 197 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 29 years of available data.
Insurance and financial services in Belarus, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1993 | 11.3% | — |
| 1994 | 5.6% | -50.5% |
| 1995 | 3.5% | -37.3% |
| 1996 | 3.5% | -0.2% |
| 1997 | 3.2% | -7.9% |
| 1998 | 3.6% | +13.7% |
| 1999 | 3.4% | -6.3% |
| 2000 | 2.5% | -26.3% |
| 2001 | 2.0% | -21.8% |
| 2002 | 1.7% | -11.4% |
| 2003 | 0.8% | -52.1% |
| 2004 | 1.6% | +94.6% |
| 2005 | 4.1% | +152.2% |
| 2006 | 3.3% | -19.7% |
| 2007 | 4.6% | +40.1% |
| 2008 | 5.4% | +16.4% |
| 2009 | 6.6% | +23.3% |
| 2010 | 5.2% | -21.1% |
| 2011 | 5.5% | +4.3% |
| 2012 | 6.3% | +14.6% |
| 2013 | 4.7% | -24.5% |
| 2014 | 6.2% | +31.0% |
| 2015 | 6.5% | +5.4% |
| 2016 | 5.9% | -9.5% |
| 2017 | 6.5% | +10.5% |
| 2018 | 5.6% | -13.4% |
| 2019 | 4.6% | -17.9% |
| 2020 | 5.4% | +16.0% |
| 2021 | 3.8% | -28.9% |
Belarus compared with similar countries
- Belarus's 3.8% is below the median for upper middle income countries, which is 6.2%, 62% of the median. (55 countries reporting)
- Belarus's 3.8% is below the median for Europe & Central Asia, which is 5.2%, 74% of the median. (51 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 4.9% | 3.2% | 11.3% | 7 |
| 2000s | 3.3% | 0.8% | 6.6% | 10 |
| 2010s | 5.7% | 4.6% | 6.5% | 10 |
| 2020s | 4.6% | 3.8% | 5.4% | 2 |
Countries ranked near Belarus
- 135 Rwanda 3.8% compare
- 136 Venezuela, Bolivarian Republic of 3.8% compare
- 137 Syrian Arab Republic 3.8% compare
- 139 Norway 3.7% compare
- 140 Solomon Islands 3.7% compare
- 141 Curaçao 3.7% compare
More economy & growth data for Belarus
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.52 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 1.07 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 175.69 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0019 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 19.34 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 1.60 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -7.77 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0171 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 176.27 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 62.92 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Belarus?
- Insurance and financial services in Belarus was 3.8% in 2021, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Belarus?
- The highest recorded value was 11.3% in 1993.
- What is the lowest insurance and financial services recorded in Belarus?
- The lowest recorded value was 0.8% in 2003.
- How does Belarus rank for insurance and financial services?
- Belarus ranks 138th out of 197 countries with data for 2021.
- Is insurance and financial services rising or falling in Belarus?
- Over the last ten years it is down 30.1%. The long-run trend across the full record is rising.
- Where does this Belarus 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.