Insurance and financial services in IDA total
IDA total: Insurance and financial services was 8.1% in 2024. ▲ Rising
Insurance and financial services in IDA total, 1977–2024
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 IDA total stood at 8.1%. That is the highest value across all 48 years on record.
That represents a change of up 17.3% on the previous year and up 29.5% over ten years.
Over the whole period, insurance and financial services in IDA total peaked at 8.1% in 2024 and was at its lowest, 4.1%, in 1993.
That places IDA total 26th out of 47 groups with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently rising across the 48 years of available data.
Insurance and financial services in IDA total, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1977 | 4.4% | — |
| 1978 | 4.6% | +4.2% |
| 1979 | 4.7% | +1.6% |
| 1980 | 4.4% | -5.0% |
| 1981 | 4.6% | +4.7% |
| 1982 | 4.5% | -2.6% |
| 1983 | 4.6% | +1.4% |
| 1984 | 4.7% | +2.3% |
| 1985 | 4.6% | -1.1% |
| 1986 | 5.0% | +7.8% |
| 1987 | 4.8% | -3.4% |
| 1988 | 4.7% | -1.9% |
| 1989 | 4.5% | -5.2% |
| 1990 | 4.3% | -3.5% |
| 1991 | 4.2% | -2.1% |
| 1992 | 4.3% | +2.5% |
| 1993 | 4.1% | -5.5% |
| 1994 | 4.1% | +1.0% |
| 1995 | 4.2% | +1.7% |
| 1996 | 4.7% | +11.8% |
| 1997 | 5.1% | +7.8% |
| 1998 | 5.2% | +3.1% |
| 1999 | 4.8% | -8.4% |
| 2000 | 4.6% | -4.4% |
| 2001 | 6.3% | +37.9% |
| 2002 | 4.9% | -22.4% |
| 2003 | 6.0% | +22.1% |
| 2004 | 5.7% | -4.7% |
| 2005 | 5.5% | -4.0% |
| 2006 | 5.4% | -2.1% |
| 2007 | 5.0% | -7.3% |
| 2008 | 5.4% | +9.2% |
| 2009 | 4.9% | -9.1% |
| 2010 | 4.9% | -1.6% |
| 2011 | 5.0% | +3.1% |
| 2012 | 5.7% | +13.8% |
| 2013 | 5.8% | +2.6% |
| 2014 | 6.3% | +7.6% |
| 2015 | 5.9% | -6.9% |
| 2016 | 6.3% | +8.4% |
| 2017 | 6.6% | +4.2% |
| 2018 | 5.9% | -10.4% |
| 2019 | 5.5% | -7.8% |
| 2020 | 6.6% | +20.2% |
| 2021 | 6.9% | +5.8% |
| 2022 | 6.3% | -9.2% |
| 2023 | 6.9% | +10.0% |
| 2024 | 8.1% | +17.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 4.5% | 4.4% | 4.7% | 3 |
| 1980s | 4.6% | 4.4% | 5.0% | 10 |
| 1990s | 4.5% | 4.1% | 5.2% | 10 |
| 2000s | 5.4% | 4.6% | 6.3% | 10 |
| 2010s | 5.8% | 4.9% | 6.6% | 10 |
| 2020s | 7.0% | 6.3% | 8.1% | 5 |
Countries ranked near IDA total
More economy & growth data for IDA total
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0084 BoP, current US$ per US$ of GDP (2025)
- General government final consumption expenditure (constant 2015 US$) 5.72 % change on previous year (2025)
- General government final consumption expenditure (current US$), per 197.95 current US$ per person (2025)
- General government final consumption expenditure (current US$), per 0.1231 current US$ per US$ of GDP (2025)
- General government final consumption expenditure (current US$) 12.46 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 13.44 BoP, current US$ per person (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 1.48 BoP, current US$ per person (2025)
- Foreign direct investment, net outflows (BoP, current US$), gaps 2.94 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0009 BoP, current US$ per US$ of GDP (2025)
- Final consumption expenditure (current US$), per unit of GDP 1.02 current US$ per US$ of GDP (2025)
Frequently asked questions
- What is insurance and financial services in IDA total?
- Insurance and financial services in IDA total was 8.1% 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 IDA total?
- The highest recorded value was 8.1% in 2024.
- What is the lowest insurance and financial services recorded in IDA total?
- The lowest recorded value was 4.1% in 1993.
- How does IDA total rank for insurance and financial services?
- IDA total ranks 26th out of 47 groups with data for 2024.
- Is insurance and financial services rising or falling in IDA total?
- Over the last ten years it is up 29.5%. The long-run trend across the full record is rising.
- Where does this IDA total 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.