Insurance and financial services in Saudi Arabia
Saudi Arabia: Insurance and financial services was 6.5% in 2025. ◆ Volatile
Insurance and financial services in Saudi Arabia, 1971–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service imports, BoP.
Analysis
In 2025, insurance and financial services in Saudi Arabia stood at 6.5%.
That represents a change of down 4.3% on the previous year and up 53.5% over ten years.
Over the whole period, insurance and financial services in Saudi Arabia peaked at 9.9% in 2021 and was at its lowest, 0.9%, in 1991.
That places Saudi Arabia 89th out of 197 countries with data for 2025, 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 Saudi Arabia, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1971 | 2.4% | — |
| 1972 | 2.4% | -0.5% |
| 1973 | 2.0% | -16.6% |
| 1974 | 1.7% | -14.4% |
| 1975 | 2.1% | +22.8% |
| 1976 | 2.6% | +25.3% |
| 1977 | 2.9% | +10.2% |
| 1978 | 2.4% | -17.5% |
| 1979 | 1.3% | -44.9% |
| 1980 | 1.5% | +16.4% |
| 1981 | 1.3% | -12.1% |
| 1982 | 1.8% | +32.7% |
| 1983 | 1.6% | -9.4% |
| 1984 | 1.6% | -2.8% |
| 1985 | 1.3% | -19.3% |
| 1986 | 1.0% | -20.0% |
| 1987 | 1.0% | -3.0% |
| 1988 | 1.5% | +51.7% |
| 1989 | 1.1% | -28.5% |
| 1990 | 1.3% | +19.0% |
| 1991 | 0.9% | -30.2% |
| 1992 | 0.9% | +6.4% |
| 1993 | 1.0% | +1.6% |
| 1994 | 1.1% | +15.7% |
| 1995 | 1.3% | +14.7% |
| 1996 | 1.0% | -21.6% |
| 1997 | 0.9% | -7.7% |
| 1998 | 1.5% | +60.6% |
| 1999 | 1.2% | -16.4% |
| 2000 | 1.0% | -19.5% |
| 2001 | 1.3% | +35.1% |
| 2002 | 1.3% | -0.1% |
| 2003 | 1.5% | +9.5% |
| 2004 | 1.4% | -1.6% |
| 2005 | 6.2% | +333.9% |
| 2006 | 5.4% | -12.8% |
| 2007 | 4.9% | -9.7% |
| 2008 | 4.6% | -6.8% |
| 2009 | 4.5% | -1.8% |
| 2010 | 4.6% | +2.4% |
| 2011 | 6.1% | +31.4% |
| 2012 | 5.9% | -2.8% |
| 2013 | 5.4% | -8.0% |
| 2014 | 4.2% | -21.8% |
| 2015 | 4.2% | -0.3% |
| 2016 | 5.0% | +19.5% |
| 2017 | 5.6% | +11.8% |
| 2018 | 5.8% | +3.1% |
| 2019 | 5.6% | -2.9% |
| 2020 | 4.8% | -14.2% |
| 2021 | 9.9% | +104.7% |
| 2022 | 6.3% | -36.4% |
| 2023 | 7.2% | +14.9% |
| 2024 | 6.8% | -6.5% |
| 2025 | 6.5% | -4.3% |
Saudi Arabia compared with similar countries
- Saudi Arabia's 6.5% is above the median for high income countries, which is 6.2%, 1.0× the median. (72 countries reporting)
- Saudi Arabia's 6.5% is below the median for Middle East, North Africa, Afghanistan & Pakistan, which is 6.5%, 100% of the median. (22 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Saudi Arabia 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 |
|---|---|---|---|
| 2005 | +333.9% | 1.4% | 6.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 2.2% | 1.3% | 2.9% | 9 |
| 1980s | 1.4% | 1.0% | 1.8% | 10 |
| 1990s | 1.1% | 0.9% | 1.5% | 10 |
| 2000s | 3.2% | 1.0% | 6.2% | 10 |
| 2010s | 5.3% | 4.2% | 6.1% | 10 |
| 2020s | 6.9% | 4.8% | 9.9% | 6 |
Countries ranked near Saudi Arabia
More economy & growth data for Saudi Arabia
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 2.26 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 3.52 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 27.03 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0212 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 731.09 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 32.63 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 52.91 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0256 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 882.47 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 8.9 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Saudi Arabia?
- Insurance and financial services in Saudi Arabia was 6.5% in 2025, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Saudi Arabia?
- The highest recorded value was 9.9% in 2021.
- What is the lowest insurance and financial services recorded in Saudi Arabia?
- The lowest recorded value was 0.9% in 1991.
- How does Saudi Arabia rank for insurance and financial services?
- Saudi Arabia ranks 89th out of 197 countries with data for 2025.
- Is insurance and financial services rising or falling in Saudi Arabia?
- Over the last ten years it is up 53.5%. The long-run trend across the full record is volatile.
- Where does this Saudi Arabia 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.