Insurance and financial services in Low income
Low income: Insurance and financial services was 6.6% in 2022. ▲ Rising
Insurance and financial services in Low income, 2005–2022
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service imports, BoP.
Analysis
In 2022, insurance and financial services in Low income stood at 6.6%.
That represents a change of down 10.1% on the previous year and down 1.1% over ten years.
Over the whole period, insurance and financial services in Low income peaked at 8.3% in 2017 and was at its lowest, 5.9%, in 2011.
That places Low income 31st out of 47 groups with data for 2022, putting it in the middle of the range.
The long-run direction has been consistently rising across the 18 years of available data.
Insurance and financial services in Low income, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 2005 | 6.3% | — |
| 2006 | 7.4% | +17.1% |
| 2007 | 6.9% | -6.7% |
| 2008 | 6.5% | -6.0% |
| 2009 | 6.1% | -5.5% |
| 2010 | 6.1% | +0.0% |
| 2011 | 5.9% | -4.3% |
| 2012 | 6.7% | +14.2% |
| 2013 | 6.7% | +0.6% |
| 2014 | 7.1% | +5.4% |
| 2015 | 6.2% | -12.2% |
| 2016 | 6.0% | -4.1% |
| 2017 | 8.3% | +39.7% |
| 2018 | 6.2% | -25.6% |
| 2019 | 6.8% | +9.1% |
| 2020 | 6.8% | +0.8% |
| 2021 | 7.4% | +7.7% |
| 2022 | 6.6% | -10.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 6.6% | 6.1% | 7.4% | 5 |
| 2010s | 6.6% | 5.9% | 8.3% | 10 |
| 2020s | 6.9% | 6.6% | 7.4% | 3 |
Countries ranked near Low income
- 28 New Zealand 13.0% compare
- 29 Japan 12.7% compare
- 30 Yemen 12.4% compare
- 31 Togo 12.1% compare
- 32 Dominican Republic 11.9% compare
- 33 Hong Kong, China 11.9% compare
- 34 Timor-Leste 11.9% compare
More economy & growth data for Low income
- General government final consumption expenditure (constant 2015 US$) 0.0918 constant 2015 US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 1.90 billion BoP, current US$ (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 3.97 % change on previous year (2025)
- Households and NPISHs Final consumption expenditure (current US$) 665.53 current US$ per person (2025)
- Households and NPISHs Final consumption expenditure (current US$) 0.7948 current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -89.97 % change on previous year (2025)
- Households and NPISHs Final consumption expenditure (current US$) 3.09 % change on previous year (2025)
- General government final consumption expenditure (constant 2015 US$) 76.83 constant 2015 US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 2.48 BoP, current US$ per person (2025)
- General government final consumption expenditure (current US$), per 0.1209 current US$ per US$ of GDP (2025)
Frequently asked questions
- What is insurance and financial services in Low income?
- Insurance and financial services in Low income was 6.6% in 2022, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Low income?
- The highest recorded value was 8.3% in 2017.
- What is the lowest insurance and financial services recorded in Low income?
- The lowest recorded value was 5.9% in 2011.
- How does Low income rank for insurance and financial services?
- Low income ranks 31st out of 47 groups with data for 2022.
- Is insurance and financial services rising or falling in Low income?
- Over the last ten years it is down 1.1%. The long-run trend across the full record is rising.
- Where does this Low income 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.