Insurance and financial services in Mozambique
Mozambique: Insurance and financial services was 6.6% in 2024. ◆ Volatile
Insurance and financial services in Mozambique, 2005–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service imports, BoP.
Analysis
Mozambique recorded 6.6% for insurance and financial services in 2024.
Compared with earlier readings it is down 16.1% on the previous year and up 94.3% over ten years.
Over the whole period, insurance and financial services in Mozambique peaked at 23.1% in 2017 and was at its lowest, 1.4%, in 2008.
That places Mozambique 85th out of 197 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in Mozambique, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 2005 | 3.1% | — |
| 2006 | 1.9% | -37.7% |
| 2007 | 2.7% | +42.7% |
| 2008 | 1.4% | -49.3% |
| 2009 | 1.9% | +40.5% |
| 2010 | 4.2% | +118.8% |
| 2011 | 3.0% | -30.5% |
| 2012 | 1.9% | -34.7% |
| 2013 | 3.3% | +72.7% |
| 2014 | 3.4% | +1.2% |
| 2015 | 5.2% | +55.3% |
| 2016 | 4.7% | -10.3% |
| 2017 | 23.1% | +392.0% |
| 2018 | 6.0% | -74.1% |
| 2019 | 15.8% | +163.7% |
| 2020 | 11.2% | -28.8% |
| 2021 | 10.5% | -6.1% |
| 2022 | 9.4% | -10.6% |
| 2023 | 7.8% | -17.0% |
| 2024 | 6.6% | -16.1% |
Mozambique compared with similar countries
- Mozambique's 6.6% is above the median for low income countries, which is 4.1%, 1.6× the median. (22 countries reporting)
- Mozambique's 6.6% is above the median for Sub-Saharan Africa, which is 6.5%, 1.0× the median. (45 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Mozambique 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 |
|---|---|---|---|
| 2017 | +392.0% | 4.7% | 23.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 2.2% | 1.4% | 3.1% | 5 |
| 2010s | 7.1% | 1.9% | 23.1% | 10 |
| 2020s | 9.1% | 6.6% | 11.2% | 5 |
Countries ranked near Mozambique
More economy & growth data for Mozambique
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 5.66 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 8.46 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps -44.11 million BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.0019 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita -1.27 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 3.51 billion BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual 30.75 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.1542 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 101.31 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate 5.66 % change on previous year (2024)
Frequently asked questions
- What is insurance and financial services in Mozambique?
- Insurance and financial services in Mozambique was 6.6% 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 Mozambique?
- The highest recorded value was 23.1% in 2017.
- What is the lowest insurance and financial services recorded in Mozambique?
- The lowest recorded value was 1.4% in 2008.
- How does Mozambique rank for insurance and financial services?
- Mozambique ranks 85th out of 197 countries with data for 2024.
- Is insurance and financial services rising or falling in Mozambique?
- Over the last ten years it is up 94.3%. The long-run trend across the full record is volatile.
- Where does this Mozambique 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.