Insurance and financial services in Marshall Islands
Marshall Islands: Insurance and financial services was 0.3% in 2021. ◆ Volatile
Insurance and financial services in Marshall Islands, 2005–2021
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service imports, BoP.
Analysis
In 2021, insurance and financial services in Marshall Islands stood at 0.3%.
Compared with earlier readings it is up 131.9% on the previous year and down 87.7% over ten years.
Over the whole period, insurance and financial services in Marshall Islands peaked at 6.1% in 2017 and was at its lowest, 0.1%, in 2019.
Marshall Islands ranks 196th of 197 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in Marshall Islands, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 2005 | 3.0% | — |
| 2006 | 3.0% | -0.0% |
| 2007 | 2.5% | -16.6% |
| 2008 | 2.6% | +4.3% |
| 2009 | 1.7% | -32.2% |
| 2010 | 2.3% | +29.5% |
| 2011 | 2.1% | -6.5% |
| 2012 | 2.0% | -4.5% |
| 2013 | 4.7% | +132.3% |
| 2014 | 4.2% | -9.4% |
| 2015 | 5.3% | +24.4% |
| 2016 | 4.7% | -10.4% |
| 2017 | 6.1% | +29.3% |
| 2018 | 5.6% | -7.8% |
| 2019 | 0.1% | -98.2% |
| 2020 | 0.1% | +10.3% |
| 2021 | 0.3% | +131.9% |
Marshall Islands compared with similar countries
- Marshall Islands's 0.3% is below the median for upper middle income countries, which is 6.2%, 4% of the median. (55 countries reporting)
- Marshall Islands's 0.3% is below the median for East Asia & Pacific, which is 4.9%, 5% of the median. (32 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Marshall Islands changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2013 | +132.3% | 2.0% | 4.7% |
| 2021 | +131.9% | 0.1% | 0.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 2.5% | 1.7% | 3.0% | 5 |
| 2010s | 3.7% | 0.1% | 6.1% | 10 |
| 2020s | 0.2% | 0.1% | 0.3% | 2 |
Countries ranked near Marshall Islands
- 193 Niger 1.0% compare
- 194 South Sudan 0.9% compare
- 195 Faroe Islands 0.8% compare
- 197 Mauritania 0.0% compare
More economy & growth data for Marshall Islands
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 0.6305 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 1.5 Percent per annum (2029)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 13.36 million BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual 46.01 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0469 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 355.78 BoP, current US$ per person (2024)
- General government final consumption expenditure (current US$) 2.99 % change on previous year (2024)
- General government final consumption expenditure (current US$), per 0.5453 current US$ per US$ of GDP (2024)
- General government final consumption expenditure (current US$), per 4,139 current US$ per person (2024)
- General government final consumption expenditure (current LCU) 2.99 % change on previous year (2024)
Frequently asked questions
- What is insurance and financial services in Marshall Islands?
- Insurance and financial services in Marshall Islands was 0.3% in 2021, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Marshall Islands?
- The highest recorded value was 6.1% in 2017.
- What is the lowest insurance and financial services recorded in Marshall Islands?
- The lowest recorded value was 0.1% in 2019.
- How does Marshall Islands rank for insurance and financial services?
- Marshall Islands ranks 196th out of 197 countries with data for 2021.
- Is insurance and financial services rising or falling in Marshall Islands?
- Over the last ten years it is down 87.7%. The long-run trend across the full record is volatile.
- Where does this Marshall Islands 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 — 17 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.