Insurance and financial services in Colombia
Colombia: Insurance and financial services was 10.6% in 2025. ▲ Rising
Insurance and financial services in Colombia, 1968–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service imports, BoP.
Analysis
Colombia recorded 10.6% for insurance and financial services in 2025.
Compared with earlier readings it is up 14.8% on the previous year and down 10.1% over ten years.
Over the whole period, insurance and financial services in Colombia peaked at 25.5% in 2020 and was at its lowest, 7.0%, in 1976.
Colombia ranks 43rd of 197 countries on this measure, in the top quarter.
The long-run direction has been consistently rising across the 58 years of available data.
Insurance and financial services in Colombia, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1968 | 9.2% | — |
| 1969 | 8.9% | -2.6% |
| 1970 | 8.0% | -10.2% |
| 1971 | 9.1% | +12.9% |
| 1972 | 8.2% | -9.9% |
| 1973 | 7.9% | -3.0% |
| 1974 | 7.1% | -9.8% |
| 1975 | 7.1% | +0.0% |
| 1976 | 7.0% | -2.2% |
| 1977 | 8.2% | +17.6% |
| 1978 | 9.0% | +9.8% |
| 1979 | 9.5% | +5.6% |
| 1980 | 10.2% | +7.1% |
| 1981 | 11.3% | +10.5% |
| 1982 | 12.1% | +7.6% |
| 1983 | 12.1% | -0.5% |
| 1984 | 14.0% | +16.3% |
| 1985 | 12.8% | -8.6% |
| 1986 | 11.8% | -8.0% |
| 1987 | 12.0% | +1.8% |
| 1988 | 13.6% | +13.3% |
| 1989 | 14.0% | +2.9% |
| 1990 | 13.2% | -6.0% |
| 1991 | 12.8% | -2.8% |
| 1992 | 12.4% | -3.4% |
| 1993 | 12.3% | -0.3% |
| 1994 | 11.4% | -7.6% |
| 1995 | 11.7% | +3.0% |
| 1996 | 12.4% | +6.1% |
| 1997 | 14.3% | +14.8% |
| 1998 | 11.1% | -22.2% |
| 1999 | 10.0% | -9.7% |
| 2000 | 13.1% | +31.0% |
| 2001 | 15.0% | +13.9% |
| 2002 | 17.9% | +19.8% |
| 2003 | 14.9% | -16.6% |
| 2004 | 13.5% | -9.4% |
| 2005 | 11.6% | -14.4% |
| 2006 | 11.0% | -4.9% |
| 2007 | 9.5% | -13.7% |
| 2008 | 9.6% | +0.7% |
| 2009 | 11.6% | +20.8% |
| 2010 | 13.6% | +17.4% |
| 2011 | 14.0% | +2.8% |
| 2012 | 13.4% | -3.8% |
| 2013 | 13.1% | -2.6% |
| 2014 | 12.7% | -3.0% |
| 2015 | 11.8% | -7.1% |
| 2016 | 11.4% | -3.5% |
| 2017 | 14.7% | +29.0% |
| 2018 | 14.4% | -1.9% |
| 2019 | 15.9% | +10.1% |
| 2020 | 25.5% | +60.5% |
| 2021 | 19.5% | -23.4% |
| 2022 | 10.4% | -46.7% |
| 2023 | 10.3% | -1.4% |
| 2024 | 9.2% | -9.9% |
| 2025 | 10.6% | +14.8% |
Colombia compared with similar countries
- Colombia's 10.6% is above the median for upper middle income countries, which is 6.2%, 1.7× the median. (55 countries reporting)
- Colombia's 10.6% is above the median for Latin America & Caribbean, which is 10.1%, 1.0× the median. (37 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 9.1% | 8.9% | 9.2% | 2 |
| 1970s | 8.1% | 7.0% | 9.5% | 10 |
| 1980s | 12.4% | 10.2% | 14.0% | 10 |
| 1990s | 12.2% | 10.0% | 14.3% | 10 |
| 2000s | 12.8% | 9.5% | 17.9% | 10 |
| 2010s | 13.5% | 11.4% | 15.9% | 10 |
| 2020s | 14.2% | 9.2% | 25.5% | 6 |
Countries ranked near Colombia
More economy & growth data for Colombia
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 2.41 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 3 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 4.82 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0105 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 90.31 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 11.57 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -15.44 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0253 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 216.58 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 6.31 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Colombia?
- Insurance and financial services in Colombia was 10.6% 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 Colombia?
- The highest recorded value was 25.5% in 2020.
- What is the lowest insurance and financial services recorded in Colombia?
- The lowest recorded value was 7.0% in 1976.
- How does Colombia rank for insurance and financial services?
- Colombia ranks 43rd out of 197 countries with data for 2025.
- Is insurance and financial services rising or falling in Colombia?
- Over the last ten years it is down 10.1%. The long-run trend across the full record is rising.
- Where does this Colombia 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.