Insurance and financial services in Canada
Canada: Insurance and financial services was 8.9% in 2025. ▲ Rising
Insurance and financial services in Canada, 1981–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service imports, BoP.
Analysis
In 2025, insurance and financial services in Canada stood at 8.9%.
Compared with earlier readings it is down 4.3% on the previous year and down 12.7% over ten years.
Over the whole period, insurance and financial services in Canada peaked at 14.3% in 2020 and was at its lowest, 6.0%, in 1990.
Canada ranks 62nd of 197 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 45 years of available data.
Insurance and financial services in Canada, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1981 | 7.8% | — |
| 1982 | 8.8% | +11.9% |
| 1983 | 8.7% | -1.0% |
| 1984 | 8.5% | -2.5% |
| 1985 | 9.3% | +10.0% |
| 1986 | 8.6% | -7.6% |
| 1987 | 8.4% | -3.0% |
| 1988 | 6.9% | -17.1% |
| 1989 | 6.9% | -0.4% |
| 1990 | 6.0% | -13.4% |
| 1991 | 6.7% | +11.4% |
| 1992 | 6.6% | -1.0% |
| 1993 | 6.9% | +4.1% |
| 1994 | 7.6% | +10.7% |
| 1995 | 7.3% | -3.8% |
| 1996 | 8.3% | +13.2% |
| 1997 | 8.7% | +4.8% |
| 1998 | 8.6% | -0.6% |
| 1999 | 7.9% | -7.9% |
| 2000 | 7.8% | -1.5% |
| 2001 | 8.6% | +10.4% |
| 2002 | 9.3% | +8.1% |
| 2003 | 9.1% | -2.0% |
| 2004 | 8.5% | -7.1% |
| 2005 | 8.6% | +1.6% |
| 2006 | 9.6% | +10.8% |
| 2007 | 9.6% | +0.6% |
| 2008 | 8.9% | -7.6% |
| 2009 | 9.6% | +7.7% |
| 2010 | 10.3% | +7.9% |
| 2011 | 9.3% | -9.5% |
| 2012 | 8.5% | -9.0% |
| 2013 | 8.8% | +4.1% |
| 2014 | 9.2% | +3.7% |
| 2015 | 10.3% | +11.7% |
| 2016 | 11.4% | +10.9% |
| 2017 | 10.9% | -3.9% |
| 2018 | 11.0% | +0.7% |
| 2019 | 10.1% | -8.1% |
| 2020 | 14.3% | +41.3% |
| 2021 | 13.7% | -3.9% |
| 2022 | 10.2% | -26.0% |
| 2023 | 9.1% | -10.0% |
| 2024 | 9.4% | +2.3% |
| 2025 | 8.9% | -4.3% |
Canada compared with similar countries
- Canada's 8.9% is above the median for high income countries, which is 6.2%, 1.4× the median. (72 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 8.2% | 6.9% | 9.3% | 9 |
| 1990s | 7.4% | 6.0% | 8.7% | 10 |
| 2000s | 9.0% | 7.8% | 9.6% | 10 |
| 2010s | 10.0% | 8.5% | 11.4% | 10 |
| 2020s | 10.9% | 8.9% | 14.3% | 6 |
Countries ranked near Canada
More economy & growth data for Canada
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 0.8812 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 1.66 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 57.17 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0246 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 1,373 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 69.03 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 9.48 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0298 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 1,657 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 4.88 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Canada?
- Insurance and financial services in Canada was 8.9% 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 Canada?
- The highest recorded value was 14.3% in 2020.
- What is the lowest insurance and financial services recorded in Canada?
- The lowest recorded value was 6.0% in 1990.
- How does Canada rank for insurance and financial services?
- Canada ranks 62nd out of 197 countries with data for 2025.
- Is insurance and financial services rising or falling in Canada?
- Over the last ten years it is down 12.7%. The long-run trend across the full record is rising.
- Where does this Canada 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.