Insurance and financial services in Guatemala
Guatemala: Insurance and financial services was 10.7% in 2024. ▲ Rising
Insurance and financial services in Guatemala, 1977–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service imports, BoP.
Analysis
The most recent figure for insurance and financial services in Guatemala is 10.7%, measured in 2024.
Compared with earlier readings it is down 8.8% on the previous year and down 25.7% over ten years.
Over the whole period, insurance and financial services in Guatemala peaked at 16.5% in 2020 and was at its lowest, 2.8%, in 1978.
That places Guatemala 41st out of 197 countries with data for 2024, putting it in the top quarter.
The long-run direction has been consistently rising across the 48 years of available data.
Insurance and financial services in Guatemala, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1977 | 5.0% | — |
| 1978 | 2.8% | -45.0% |
| 1979 | 3.7% | +31.9% |
| 1980 | 3.3% | -8.5% |
| 1981 | 3.9% | +16.1% |
| 1982 | 4.9% | +25.8% |
| 1983 | 6.6% | +35.0% |
| 1984 | 10.6% | +61.2% |
| 1985 | 6.5% | -38.9% |
| 1986 | 5.6% | -13.2% |
| 1987 | 3.7% | -33.8% |
| 1988 | 4.5% | +20.3% |
| 1989 | 4.9% | +7.9% |
| 1990 | 3.3% | -32.9% |
| 1991 | 4.1% | +24.9% |
| 1992 | 3.6% | -10.6% |
| 1993 | 4.6% | +27.6% |
| 1994 | 4.8% | +4.2% |
| 1995 | 8.4% | +73.1% |
| 1996 | 7.6% | -9.7% |
| 1997 | 6.5% | -13.4% |
| 1998 | 5.1% | -22.5% |
| 1999 | 4.1% | -20.0% |
| 2000 | 7.8% | +92.4% |
| 2001 | 9.8% | +25.2% |
| 2002 | 10.9% | +11.7% |
| 2003 | 12.6% | +15.6% |
| 2004 | 13.1% | +3.8% |
| 2005 | 9.0% | -31.2% |
| 2006 | 10.8% | +19.7% |
| 2007 | 10.3% | -4.6% |
| 2008 | 10.4% | +0.8% |
| 2009 | 10.0% | -3.9% |
| 2010 | 10.3% | +3.3% |
| 2011 | 11.9% | +16.0% |
| 2012 | 14.5% | +21.6% |
| 2013 | 13.8% | -4.7% |
| 2014 | 14.3% | +3.6% |
| 2015 | 13.2% | -7.6% |
| 2016 | 13.0% | -2.2% |
| 2017 | 14.6% | +13.1% |
| 2018 | 14.4% | -1.7% |
| 2019 | 13.6% | -5.7% |
| 2020 | 16.5% | +21.3% |
| 2021 | 13.1% | -20.6% |
| 2022 | 11.3% | -13.9% |
| 2023 | 11.7% | +3.7% |
| 2024 | 10.7% | -8.8% |
Guatemala compared with similar countries
- Guatemala's 10.7% is above the median for upper middle income countries, which is 6.2%, 1.7× the median. (55 countries reporting)
- Guatemala's 10.7% is above the median for Latin America & Caribbean, which is 10.1%, 1.1× the median. (37 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 3.8% | 2.8% | 5.0% | 3 |
| 1980s | 5.5% | 3.3% | 10.6% | 10 |
| 1990s | 5.2% | 3.3% | 8.4% | 10 |
| 2000s | 10.5% | 7.8% | 13.1% | 10 |
| 2010s | 13.4% | 10.3% | 14.6% | 10 |
| 2020s | 12.6% | 10.7% | 16.5% | 5 |
Countries ranked near Guatemala
More economy & growth data for Guatemala
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 2.43 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 3.86 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 865.22 million BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0076 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita 47.01 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 1.85 billion BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual 11.98 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0163 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 100.4 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate 34.17 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Guatemala?
- Insurance and financial services in Guatemala was 10.7% 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 Guatemala?
- The highest recorded value was 16.5% in 2020.
- What is the lowest insurance and financial services recorded in Guatemala?
- The lowest recorded value was 2.8% in 1978.
- How does Guatemala rank for insurance and financial services?
- Guatemala ranks 41st out of 197 countries with data for 2024.
- Is insurance and financial services rising or falling in Guatemala?
- Over the last ten years it is down 25.7%. The long-run trend across the full record is rising.
- Where does this Guatemala 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
CSV · JSON — 48 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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.