Insurance and financial services in Ireland
Ireland: Insurance and financial services was 8.8% in 2024. ▼ Falling
Insurance and financial services in Ireland, 2005–2024
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 Ireland is 8.8%, measured in 2024.
That represents a change of down 1.6% on the previous year and down 21.8% over ten years.
Over the whole period, insurance and financial services in Ireland peaked at 17.4% in 2006 and was at its lowest, 6.8%, in 2019.
That places Ireland 65th out of 197 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently falling across the 20 years of available data.
Insurance and financial services in Ireland, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 2005 | 15.0% | — |
| 2006 | 17.4% | +16.1% |
| 2007 | 17.0% | -2.5% |
| 2008 | 14.3% | -16.1% |
| 2009 | 14.1% | -1.4% |
| 2010 | 13.3% | -5.2% |
| 2011 | 12.9% | -3.5% |
| 2012 | 14.1% | +9.6% |
| 2013 | 11.7% | -16.7% |
| 2014 | 11.2% | -4.4% |
| 2015 | 9.8% | -12.3% |
| 2016 | 8.4% | -14.8% |
| 2017 | 8.6% | +2.9% |
| 2018 | 10.0% | +16.1% |
| 2019 | 6.8% | -31.6% |
| 2020 | 7.6% | +11.6% |
| 2021 | 10.0% | +31.2% |
| 2022 | 9.6% | -4.1% |
| 2023 | 8.9% | -7.3% |
| 2024 | 8.8% | -1.6% |
Ireland compared with similar countries
- Ireland's 8.8% is above the median for high income countries, which is 6.2%, 1.4× the median. (72 countries reporting)
- Ireland's 8.8% is above the median for Europe & Central Asia, which is 5.2%, 1.7× the median. (51 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 15.6% | 14.1% | 17.4% | 5 |
| 2010s | 10.7% | 6.8% | 14.1% | 10 |
| 2020s | 9.0% | 7.6% | 10.0% | 5 |
Countries ranked near Ireland
More economy & growth data for Ireland
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.96 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.52 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 67.14 billion BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.1102 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita 12,444 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 4.82 billion BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual 103.44 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0079 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 893.09 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate 7.57 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Ireland?
- Insurance and financial services in Ireland was 8.8% 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 Ireland?
- The highest recorded value was 17.4% in 2006.
- What is the lowest insurance and financial services recorded in Ireland?
- The lowest recorded value was 6.8% in 2019.
- How does Ireland rank for insurance and financial services?
- Ireland ranks 65th out of 197 countries with data for 2024.
- Is insurance and financial services rising or falling in Ireland?
- Over the last ten years it is down 21.8%. The long-run trend across the full record is falling.
- Where does this Ireland 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.