Insurance and financial services in Heavily indebted poor countries (HIPC)
Heavily indebted poor countries (HIPC): Insurance and financial services was 9.3% in 2024. ▲ Rising
Insurance and financial services in Heavily indebted poor countries (HIPC), 1978–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service imports, BoP.
Analysis
Heavily indebted poor countries (HIPC) recorded 9.3% for insurance and financial services in 2024. That is the highest value across all 47 years on record.
That represents a change of up 34.9% on the previous year and up 59.7% over ten years.
Over the whole period, insurance and financial services in Heavily indebted poor countries (HIPC) peaked at 9.3% in 2024 and was at its lowest, 4.1%, in 1994.
Heavily indebted poor countries (HIPC) ranks 12th of 47 groups on this measure, in the top quarter.
The long-run direction has been consistently rising across the 47 years of available data.
Insurance and financial services in Heavily indebted poor countries (HIPC), year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1978 | 5.2% | — |
| 1979 | 6.0% | +15.5% |
| 1980 | 5.7% | -5.4% |
| 1981 | 5.3% | -6.4% |
| 1982 | 5.6% | +4.6% |
| 1983 | 5.3% | -4.0% |
| 1984 | 5.8% | +7.7% |
| 1985 | 5.4% | -5.7% |
| 1986 | 6.0% | +9.7% |
| 1987 | 5.6% | -6.2% |
| 1988 | 5.2% | -6.6% |
| 1989 | 5.2% | +0.2% |
| 1990 | 5.4% | +2.4% |
| 1991 | 4.6% | -14.8% |
| 1992 | 5.1% | +12.3% |
| 1993 | 4.3% | -15.7% |
| 1994 | 4.1% | -5.3% |
| 1995 | 4.3% | +4.5% |
| 1996 | 4.5% | +4.5% |
| 1997 | 4.2% | -5.1% |
| 1998 | 4.6% | +9.1% |
| 1999 | 4.3% | -7.4% |
| 2000 | 4.5% | +5.2% |
| 2001 | 5.5% | +21.2% |
| 2002 | 5.2% | -5.4% |
| 2003 | 6.7% | +30.3% |
| 2004 | 5.8% | -13.5% |
| 2005 | 7.1% | +22.2% |
| 2006 | 6.2% | -12.4% |
| 2007 | 6.3% | +1.5% |
| 2008 | 6.2% | -1.4% |
| 2009 | 6.2% | -0.7% |
| 2010 | 6.1% | -0.8% |
| 2011 | 5.8% | -5.2% |
| 2012 | 6.1% | +5.4% |
| 2013 | 5.8% | -4.6% |
| 2014 | 5.8% | -0.6% |
| 2015 | 5.2% | -10.5% |
| 2016 | 5.2% | -0.8% |
| 2017 | 6.2% | +19.3% |
| 2018 | 5.5% | -11.0% |
| 2019 | 5.4% | -0.9% |
| 2020 | 6.2% | +13.4% |
| 2021 | 7.1% | +15.5% |
| 2022 | 6.4% | -10.0% |
| 2023 | 6.9% | +7.4% |
| 2024 | 9.3% | +34.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 5.6% | 5.2% | 6.0% | 2 |
| 1980s | 5.5% | 5.2% | 6.0% | 10 |
| 1990s | 4.5% | 4.1% | 5.4% | 10 |
| 2000s | 6.0% | 4.5% | 7.1% | 10 |
| 2010s | 5.7% | 5.2% | 6.2% | 10 |
| 2020s | 7.2% | 6.2% | 9.3% | 5 |
Countries ranked near Heavily indebted poor countries (HIPC)
- 9 Iraq 19.1% compare
- 10 Saint Kitts and Nevis 18.4% compare
- 11 Congo, Democratic Republic of the 18.2% compare
- 12 Trinidad and Tobago 17.9% compare
- 13 Bermuda 17.6% compare
- 14 Panama 17.5% compare
- 15 Cyprus 17.0% compare
More economy & growth data for Heavily indebted poor countries (HIPC)
- Households and NPISHs Final consumption expenditure (current US$) 0.6735 current US$ per US$ of GDP (2025)
- General government final consumption expenditure (constant 2015 US$) 0.0884 constant 2015 US$ per US$ of GDP (2025)
- General government final consumption expenditure (constant 2015 US$) 117.76 constant 2015 US$ per person (2025)
- Households and NPISHs Final consumption expenditure (current US$) 7.44 % change on previous year (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0006 BoP, current US$ per US$ of GDP (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 4.76 % change on previous year (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 0.5368 constant 2015 US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), gaps 785.79 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 0.8142 BoP, current US$ per person (2025)
- Households and NPISHs Final consumption expenditure (current US$) 897.08 current US$ per person (2025)
Frequently asked questions
- What is insurance and financial services in Heavily indebted poor countries (HIPC)?
- Insurance and financial services in Heavily indebted poor countries (HIPC) was 9.3% 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 Heavily indebted poor countries (HIPC)?
- The highest recorded value was 9.3% in 2024.
- What is the lowest insurance and financial services recorded in Heavily indebted poor countries (HIPC)?
- The lowest recorded value was 4.1% in 1994.
- How does Heavily indebted poor countries (HIPC) rank for insurance and financial services?
- Heavily indebted poor countries (HIPC) ranks 12th out of 47 groups with data for 2024.
- Is insurance and financial services rising or falling in Heavily indebted poor countries (HIPC)?
- Over the last ten years it is up 59.7%. The long-run trend across the full record is rising.
- Where does this Heavily indebted poor countries (HIPC) 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.