Insurance and financial services in Tonga
Tonga: Insurance and financial services was 2.7% in 2024. ▼ Falling
Insurance and financial services in Tonga, 1971–2024
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 Tonga is 2.7%, measured in 2024.
The figure is up 21.9% on the previous year and down 61.1% over ten years.
Over the whole period, insurance and financial services in Tonga peaked at 8.3% in 2005 and was at its lowest, 1.0%, in 2022.
Tonga ranks 159th of 197 countries on this measure, in the bottom quarter.
The long-run direction has been consistently falling across the 46 years of available data.
Insurance and financial services in Tonga, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1971 | 7.9% | — |
| 1972 | 6.4% | -18.7% |
| 1973 | 6.4% | -0.6% |
| 1974 | 6.4% | -0.3% |
| 1975 | 6.8% | +7.5% |
| 1976 | 5.3% | -22.4% |
| 1977 | 4.3% | -19.8% |
| 1978 | 6.0% | +41.8% |
| 1979 | 6.7% | +11.1% |
| 1980 | 4.4% | -33.9% |
| 1981 | 6.2% | +40.2% |
| 1982 | 6.0% | -3.9% |
| 1983 | 4.4% | -26.3% |
| 1984 | 3.8% | -14.6% |
| 1985 | 3.0% | -21.0% |
| 1986 | 4.7% | +59.0% |
| 1987 | 4.2% | -10.2% |
| 1988 | 3.8% | -11.4% |
| 1989 | 4.4% | +18.2% |
| 1990 | 4.6% | +3.2% |
| 1991 | 4.8% | +3.6% |
| 1992 | 4.8% | +0.8% |
| 1993 | 5.7% | +18.8% |
| 1994 | 5.1% | -11.0% |
| 2003 | 1.4% | -72.9% |
| 2004 | 6.2% | +353.9% |
| 2005 | 8.3% | +33.1% |
| 2006 | 8.1% | -2.4% |
| 2007 | 8.2% | +0.9% |
| 2008 | 5.0% | -38.9% |
| 2009 | 5.8% | +15.8% |
| 2010 | 4.6% | -19.8% |
| 2011 | 5.5% | +18.5% |
| 2012 | 7.0% | +27.1% |
| 2013 | 7.1% | +2.1% |
| 2014 | 6.9% | -3.1% |
| 2015 | 1.6% | -76.3% |
| 2016 | 2.0% | +25.3% |
| 2017 | 1.4% | -29.6% |
| 2018 | 1.5% | +4.3% |
| 2019 | 1.2% | -21.0% |
| 2020 | 1.3% | +7.7% |
| 2021 | 1.6% | +28.3% |
| 2022 | 1.0% | -38.1% |
| 2023 | 2.2% | +116.9% |
| 2024 | 2.7% | +21.9% |
Tonga compared with similar countries
- Tonga's 2.7% is below the median for upper middle income countries, which is 6.2%, 44% of the median. (55 countries reporting)
- Tonga's 2.7% is below the median for East Asia & Pacific, which is 4.9%, 54% of the median. (32 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Tonga 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 |
|---|---|---|---|
| 2004 | +353.9% | 1.4% | 6.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 6.3% | 4.3% | 7.9% | 9 |
| 1980s | 4.5% | 3.0% | 6.2% | 10 |
| 1990s | 5.0% | 4.6% | 5.7% | 5 |
| 2000s | 6.1% | 1.4% | 8.3% | 7 |
| 2010s | 3.9% | 1.2% | 7.1% | 10 |
| 2020s | 1.8% | 1.0% | 2.7% | 5 |
Countries ranked near Tonga
- 156 Seychelles 2.9% compare
- 157 India 2.9% compare
- 158 Azerbaijan 2.7% compare
- 160 Algeria 2.7% compare
- 161 Micronesia, Federated States of 2.7% compare
- 162 Benin 2.7% compare
More economy & growth data for Tonga
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 0.3875 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 1.2 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 1.25 million BoP, current US$ (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$), per capita 12.03 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled -12.08 million BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual -560.68 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit -0.0187 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita -115.95 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate 9.39 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Tonga?
- Insurance and financial services in Tonga was 2.7% 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 Tonga?
- The highest recorded value was 8.3% in 2005.
- What is the lowest insurance and financial services recorded in Tonga?
- The lowest recorded value was 1.0% in 2022.
- How does Tonga rank for insurance and financial services?
- Tonga ranks 159th out of 197 countries with data for 2024.
- Is insurance and financial services rising or falling in Tonga?
- Over the last ten years it is down 61.1%. The long-run trend across the full record is falling.
- Where does this Tonga 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 — 46 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.