Insurance and financial services in Europe & Central Asia (IDA & IBRD countries)
Europe & Central Asia (IDA & IBRD countries): Insurance and financial services was 4.6% in 2024. ▼ Falling
Insurance and financial services in Europe & Central Asia (IDA & IBRD countries), 1994–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service imports, BoP.
Analysis
In 2024, insurance and financial services in Europe & Central Asia (IDA & IBRD countries) stood at 4.6%.
The figure is up 4.2% on the previous year and down 12.8% over ten years.
Over the whole period, insurance and financial services in Europe & Central Asia (IDA & IBRD countries) peaked at 6.7% in 2009 and was at its lowest, 4.2%, in 1994.
That places Europe & Central Asia (IDA & IBRD countries) 42nd out of 47 groups with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently falling across the 31 years of available data.
Insurance and financial services in Europe & Central Asia (IDA & IBRD countries), year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1994 | 4.2% | — |
| 1995 | 4.5% | +6.8% |
| 1996 | 4.9% | +9.4% |
| 1997 | 5.8% | +18.9% |
| 1998 | 6.6% | +13.3% |
| 1999 | 6.7% | +1.3% |
| 2000 | 5.8% | -12.4% |
| 2001 | 5.8% | +0.0% |
| 2002 | 5.7% | -3.3% |
| 2003 | 6.3% | +11.1% |
| 2004 | 6.0% | -4.9% |
| 2005 | 5.6% | -5.9% |
| 2006 | 6.0% | +6.9% |
| 2007 | 6.6% | +9.1% |
| 2008 | 6.4% | -2.0% |
| 2009 | 6.7% | +4.1% |
| 2010 | 6.3% | -5.4% |
| 2011 | 6.1% | -3.7% |
| 2012 | 5.6% | -8.6% |
| 2013 | 5.5% | -1.4% |
| 2014 | 5.3% | -3.3% |
| 2015 | 5.9% | +11.1% |
| 2016 | 5.6% | -5.4% |
| 2017 | 5.1% | -7.8% |
| 2018 | 4.7% | -9.6% |
| 2019 | 4.5% | -2.7% |
| 2020 | 6.0% | +32.1% |
| 2021 | 5.5% | -7.9% |
| 2022 | 4.6% | -16.9% |
| 2023 | 4.4% | -2.8% |
| 2024 | 4.6% | +4.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 5.4% | 4.2% | 6.7% | 6 |
| 2000s | 6.1% | 5.6% | 6.7% | 10 |
| 2010s | 5.5% | 4.5% | 6.3% | 10 |
| 2020s | 5.0% | 4.4% | 6.0% | 5 |
Countries ranked near Europe & Central Asia (IDA & IBRD countries)
More economy & growth data for Europe & Central Asia (IDA & IBRD countries)
- Foreign direct investment, net inflows (BoP, current US$), per capita 161.23 BoP, current US$ per person (2025)
- Households and NPISHs Final consumption expenditure (current US$) 0.562 current US$ per US$ of GDP (2025)
- Households and NPISHs Final consumption expenditure (current US$) 17.66 % change on previous year (2025)
- General government final consumption expenditure (constant 2015 US$) 1,688 constant 2015 US$ per person (2025)
- General government final consumption expenditure (constant 2015 US$) 0.1103 constant 2015 US$ per US$ of GDP (2025)
- General government final consumption expenditure (constant 2015 US$) 1.86 % change on previous year (2025)
- General government final consumption expenditure (current US$), per 2,789 current US$ per person (2025)
- General government final consumption expenditure (current US$), per 0.1823 current US$ per US$ of GDP (2025)
- General government final consumption expenditure (current US$) 17.34 % change on previous year (2025)
- Foreign direct investment, net outflows (BoP, current US$), gaps 26.45 billion BoP, current US$ (2025)
Frequently asked questions
- What is insurance and financial services in Europe & Central Asia (IDA & IBRD countries)?
- Insurance and financial services in Europe & Central Asia (IDA & IBRD countries) was 4.6% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Europe & Central Asia (IDA & IBRD countries)?
- The highest recorded value was 6.7% in 2009.
- What is the lowest insurance and financial services recorded in Europe & Central Asia (IDA & IBRD countries)?
- The lowest recorded value was 4.2% in 1994.
- How does Europe & Central Asia (IDA & IBRD countries) rank for insurance and financial services?
- Europe & Central Asia (IDA & IBRD countries) ranks 42nd out of 47 groups with data for 2024.
- Is insurance and financial services rising or falling in Europe & Central Asia (IDA & IBRD countries)?
- Over the last ten years it is down 12.8%. The long-run trend across the full record is falling.
- Where does this Europe & Central Asia (IDA & IBRD countries) 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.
Download this data
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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.