Insurance and financial services in Ukraine
Ukraine: Insurance and financial services was 3.2% in 2024. ▼ Falling
Insurance and financial services in Ukraine, 1994–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service imports, BoP.
Analysis
Ukraine recorded 3.2% for insurance and financial services in 2024.
The figure is up 14.8% on the previous year and down 56.2% over ten years.
Over the whole period, insurance and financial services in Ukraine peaked at 14.3% in 2003 and was at its lowest, 2.3%, in 1996.
That places Ukraine 152nd out of 197 countries with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently falling across the 31 years of available data.
Insurance and financial services in Ukraine, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1994 | 12.6% | — |
| 1995 | 5.5% | -56.1% |
| 1996 | 2.3% | -58.9% |
| 1997 | 3.5% | +52.7% |
| 1998 | 3.5% | +1.1% |
| 1999 | 3.6% | +2.6% |
| 2000 | 5.3% | +46.3% |
| 2001 | 4.2% | -20.3% |
| 2002 | 7.2% | +71.7% |
| 2003 | 14.3% | +98.5% |
| 2004 | 8.2% | -43.0% |
| 2005 | 5.0% | -39.3% |
| 2006 | 5.9% | +18.5% |
| 2007 | 8.9% | +51.4% |
| 2008 | 9.9% | +11.9% |
| 2009 | 12.3% | +24.1% |
| 2010 | 9.2% | -25.2% |
| 2011 | 7.8% | -15.8% |
| 2012 | 7.4% | -4.7% |
| 2013 | 7.2% | -2.7% |
| 2014 | 7.2% | +0.2% |
| 2015 | 8.3% | +14.8% |
| 2016 | 5.5% | -33.8% |
| 2017 | 5.1% | -7.2% |
| 2018 | 4.1% | -19.1% |
| 2019 | 4.1% | +0.8% |
| 2020 | 6.3% | +51.6% |
| 2021 | 5.5% | -13.0% |
| 2022 | 2.9% | -46.7% |
| 2023 | 2.8% | -5.5% |
| 2024 | 3.2% | +14.8% |
Ukraine compared with similar countries
- Ukraine's 3.2% is below the median for upper middle income countries, which is 6.2%, 51% of the median. (55 countries reporting)
- Ukraine's 3.2% is below the median for Europe & Central Asia, which is 5.2%, 61% of the median. (51 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 5.2% | 2.3% | 12.6% | 6 |
| 2000s | 8.1% | 4.2% | 14.3% | 10 |
| 2010s | 6.6% | 4.1% | 9.2% | 10 |
| 2020s | 4.1% | 2.8% | 6.3% | 5 |
Countries ranked near Ukraine
More economy & growth data for Ukraine
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 4.93 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 4.2 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 305.00 million BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0016 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita 8.06 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 4.02 billion BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual -12.12 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0211 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 106.13 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate 30.81 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Ukraine?
- Insurance and financial services in Ukraine was 3.2% 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 Ukraine?
- The highest recorded value was 14.3% in 2003.
- What is the lowest insurance and financial services recorded in Ukraine?
- The lowest recorded value was 2.3% in 1996.
- How does Ukraine rank for insurance and financial services?
- Ukraine ranks 152nd out of 197 countries with data for 2024.
- Is insurance and financial services rising or falling in Ukraine?
- Over the last ten years it is down 56.2%. The long-run trend across the full record is falling.
- Where does this Ukraine 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 — 31 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.