Insurance and financial services in Caribbean Small States
Caribbean Small States: Insurance and financial services was 9.7% in 2025. ▲ Rising
Insurance and financial services in Caribbean Small States, 1976–2025
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 Caribbean Small States stood at 9.7%.
The figure is down 14.5% on the previous year and down 7.2% over ten years.
Over the whole period, insurance and financial services in Caribbean Small States peaked at 14.7% in 2022 and was at its lowest, 5.2%, in 1985.
That places Caribbean Small States 10th out of 47 groups with data for 2025, putting it in the top quarter.
The long-run direction has been consistently rising across the 50 years of available data.
Insurance and financial services in Caribbean Small States, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1976 | 6.2% | — |
| 1977 | 5.9% | -4.0% |
| 1978 | 6.5% | +8.6% |
| 1979 | 6.3% | -2.1% |
| 1980 | 6.9% | +9.1% |
| 1981 | 6.4% | -6.9% |
| 1982 | 7.2% | +12.7% |
| 1983 | 6.5% | -10.2% |
| 1984 | 5.6% | -14.1% |
| 1985 | 5.2% | -6.0% |
| 1986 | 5.9% | +12.8% |
| 1987 | 7.3% | +22.5% |
| 1988 | 6.4% | -12.2% |
| 1989 | 6.9% | +9.0% |
| 1990 | 7.2% | +3.2% |
| 1991 | 8.7% | +22.0% |
| 1992 | 8.8% | +0.3% |
| 1993 | 8.9% | +1.8% |
| 1994 | 9.4% | +5.7% |
| 1995 | 9.0% | -4.6% |
| 1996 | 8.2% | -8.3% |
| 1997 | 7.2% | -12.9% |
| 1998 | 6.0% | -16.4% |
| 1999 | 7.1% | +18.9% |
| 2000 | 7.5% | +4.7% |
| 2001 | 8.1% | +8.6% |
| 2002 | 8.3% | +1.7% |
| 2003 | 8.6% | +4.0% |
| 2004 | 7.3% | -14.7% |
| 2005 | 7.7% | +5.4% |
| 2006 | 7.4% | -4.5% |
| 2007 | 7.2% | -2.2% |
| 2008 | 7.3% | +1.4% |
| 2009 | 7.4% | +1.4% |
| 2010 | 10.4% | +39.7% |
| 2011 | 10.1% | -2.3% |
| 2012 | 10.2% | +0.9% |
| 2013 | 9.9% | -2.6% |
| 2014 | 9.3% | -6.0% |
| 2015 | 10.4% | +11.4% |
| 2016 | 9.9% | -5.2% |
| 2017 | 8.5% | -14.1% |
| 2018 | 10.0% | +17.9% |
| 2019 | 9.1% | -8.5% |
| 2020 | 11.4% | +24.8% |
| 2021 | 11.3% | -1.2% |
| 2022 | 14.7% | +30.6% |
| 2023 | 7.9% | -46.2% |
| 2024 | 11.3% | +42.6% |
| 2025 | 9.7% | -14.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 6.2% | 5.9% | 6.5% | 4 |
| 1980s | 6.4% | 5.2% | 7.3% | 10 |
| 1990s | 8.1% | 6.0% | 9.4% | 10 |
| 2000s | 7.7% | 7.2% | 8.6% | 10 |
| 2010s | 9.8% | 8.5% | 10.4% | 10 |
| 2020s | 11.1% | 7.9% | 14.7% | 6 |
Countries ranked near Caribbean Small States
- 7 United States 19.7% compare
- 8 Tajikistan 19.1% compare
- 9 Iraq 19.1% compare
- 10 Saint Kitts and Nevis 18.4% compare
- 11 Democratic Republic of Congo 18.2% compare
- 12 Trinidad and Tobago 17.9% compare
- 13 Bermuda 17.6% compare
More economy & growth data for Caribbean Small States
- GDP (current US$), per capita 20,880 current US$ per person (2025)
- GNI, Atlas method (current US$), per capita 19,403 current US$ per person (2025)
- GNI, Atlas method (current US$), per unit of GDP 0.9292 current US$ per US$ of GDP (2025)
- GNI, Atlas method (current US$), annual growth rate 3.62 % change on previous year (2025)
- GDP (constant 2015 US$), per capita 20,053 constant 2015 US$ per person (2025)
- GDP (constant 2015 US$), per unit of GDP 0.9604 constant 2015 US$ per US$ of GDP (2025)
- GDP (constant 2015 US$), annual growth rate 7.98 % change on previous year (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), annual 13.52 % change on previous year (2024)
- Foreign direct investment, net outflows (BoP, current US$), gaps -376.12 million BoP, current US$ (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), per unit 0.8627 constant 2015 US$ per US$ of GDP (2024)
Frequently asked questions
- What is insurance and financial services in Caribbean Small States?
- Insurance and financial services in Caribbean Small States was 9.7% 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 Caribbean Small States?
- The highest recorded value was 14.7% in 2022.
- What is the lowest insurance and financial services recorded in Caribbean Small States?
- The lowest recorded value was 5.2% in 1985.
- How does Caribbean Small States rank for insurance and financial services?
- Caribbean Small States ranks 10th out of 47 groups with data for 2025.
- Is insurance and financial services rising or falling in Caribbean Small States?
- Over the last ten years it is down 7.2%. The long-run trend across the full record is rising.
- Where does this Caribbean Small States 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.