Insurance and financial services in Cyprus
Cyprus: Insurance and financial services was 17.0% in 2025. ◆ Volatile
Insurance and financial services in Cyprus, 1976–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service imports, BoP.
Analysis
Cyprus recorded 17.0% for insurance and financial services in 2025.
That represents a change of down 1.8% on the previous year and down 33.2% over ten years.
Over the whole period, insurance and financial services in Cyprus peaked at 31.4% in 2020 and was at its lowest, 0.3%, in 1984.
Cyprus ranks 15th of 197 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in Cyprus, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1976 | 6.1% | — |
| 1977 | 6.3% | +3.3% |
| 1978 | 6.5% | +2.6% |
| 1979 | 6.3% | -2.1% |
| 1980 | 2.0% | -68.3% |
| 1981 | 1.6% | -22.4% |
| 1982 | 1.1% | -31.4% |
| 1983 | 0.7% | -32.2% |
| 1984 | 0.3% | -61.1% |
| 1985 | 1.2% | +340.1% |
| 1986 | 6.0% | +385.5% |
| 1987 | 5.7% | -5.6% |
| 1988 | 5.5% | -3.4% |
| 1989 | 6.1% | +11.6% |
| 1990 | 5.8% | -6.2% |
| 1991 | 5.3% | -7.8% |
| 1992 | 5.7% | +7.9% |
| 1993 | 5.7% | -1.1% |
| 1994 | 5.6% | -1.2% |
| 1995 | 6.5% | +16.2% |
| 1996 | 6.7% | +3.4% |
| 1997 | 7.0% | +3.9% |
| 1998 | 7.6% | +8.9% |
| 1999 | 8.2% | +7.1% |
| 2000 | 7.2% | -11.7% |
| 2001 | 6.9% | -4.6% |
| 2002 | 5.2% | -25.0% |
| 2003 | 4.0% | -21.8% |
| 2004 | 6.5% | +60.5% |
| 2005 | 5.8% | -10.0% |
| 2006 | 7.0% | +19.7% |
| 2007 | 6.5% | -6.3% |
| 2008 | 18.0% | +175.0% |
| 2009 | 18.9% | +5.2% |
| 2010 | 22.4% | +18.8% |
| 2011 | 20.0% | -10.6% |
| 2012 | 17.1% | -14.7% |
| 2013 | 20.4% | +19.4% |
| 2014 | 28.4% | +39.1% |
| 2015 | 25.4% | -10.4% |
| 2016 | 28.5% | +11.9% |
| 2017 | 26.4% | -7.5% |
| 2018 | 26.7% | +1.4% |
| 2019 | 26.2% | -2.0% |
| 2020 | 31.4% | +19.9% |
| 2021 | 25.0% | -20.3% |
| 2022 | 26.8% | +7.2% |
| 2023 | 17.2% | -35.9% |
| 2024 | 17.3% | +0.7% |
| 2025 | 17.0% | -1.8% |
Cyprus compared with similar countries
- Cyprus's 17.0% is above the median for high income countries, which is 6.2%, 2.7× the median. (72 countries reporting)
- Cyprus's 17.0% is above the median for Europe & Central Asia, which is 5.2%, 3.3× the median. (51 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Cyprus changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1986 | +385.5% | 1.2% | 6.0% |
| 1985 | +340.1% | 0.3% | 1.2% |
| 2008 | +175.0% | 6.5% | 18.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 6.3% | 6.1% | 6.5% | 4 |
| 1980s | 3.0% | 0.3% | 6.1% | 10 |
| 1990s | 6.4% | 5.3% | 8.2% | 10 |
| 2000s | 8.6% | 4.0% | 18.9% | 10 |
| 2010s | 24.2% | 17.1% | 28.5% | 10 |
| 2020s | 22.5% | 17.0% | 31.4% | 6 |
Countries ranked near Cyprus
More economy & growth data for Cyprus
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 2.45 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.98 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 1.57 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.038 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 1,144 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 11.16 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 122.17 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.2708 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 8,144 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 41.22 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Cyprus?
- Insurance and financial services in Cyprus was 17.0% 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 Cyprus?
- The highest recorded value was 31.4% in 2020.
- What is the lowest insurance and financial services recorded in Cyprus?
- The lowest recorded value was 0.3% in 1984.
- How does Cyprus rank for insurance and financial services?
- Cyprus ranks 15th out of 197 countries with data for 2025.
- Is insurance and financial services rising or falling in Cyprus?
- Over the last ten years it is down 33.2%. The long-run trend across the full record is volatile.
- Where does this Cyprus 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.