Insurance and financial services in Vanuatu
Vanuatu: Insurance and financial services was 4.7% in 2022. ▬ Flat
Insurance and financial services in Vanuatu, 1982–2022
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 Vanuatu is 4.7%, measured in 2022.
That represents a change of up 2.9% on the previous year and down 54.9% over ten years.
Over the whole period, insurance and financial services in Vanuatu peaked at 11.1% in 2001 and was at its lowest, 2.7%, in 2002.
That places Vanuatu 119th out of 197 countries with data for 2022, putting it in the middle of the range.
Insurance and financial services in Vanuatu, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1982 | 6.0% | — |
| 1983 | 5.4% | -9.6% |
| 1984 | 5.1% | -5.8% |
| 1985 | 5.1% | -0.1% |
| 1986 | 5.8% | +15.5% |
| 1987 | 7.2% | +23.6% |
| 1988 | 6.5% | -10.5% |
| 1989 | 6.0% | -7.5% |
| 1990 | 6.6% | +9.9% |
| 1991 | 5.4% | -17.4% |
| 1992 | 4.9% | -9.2% |
| 1993 | 4.4% | -11.5% |
| 1994 | 4.8% | +10.2% |
| 1995 | 4.7% | -1.6% |
| 1996 | 4.4% | -7.2% |
| 1997 | 3.7% | -15.6% |
| 1998 | 9.6% | +160.5% |
| 1999 | 6.3% | -34.3% |
| 2000 | 10.6% | +67.8% |
| 2001 | 11.1% | +4.2% |
| 2002 | 2.7% | -75.8% |
| 2003 | 3.0% | +13.5% |
| 2004 | 3.6% | +18.8% |
| 2005 | 4.9% | +35.3% |
| 2006 | 5.4% | +10.2% |
| 2007 | 6.6% | +21.5% |
| 2008 | 5.0% | -24.4% |
| 2009 | 7.6% | +53.8% |
| 2010 | 6.5% | -14.7% |
| 2011 | 8.9% | +36.8% |
| 2012 | 10.4% | +16.8% |
| 2013 | 10.2% | -1.7% |
| 2014 | 5.4% | -47.3% |
| 2015 | 3.3% | -38.2% |
| 2016 | 3.0% | -9.1% |
| 2017 | 6.3% | +109.3% |
| 2018 | 5.8% | -8.6% |
| 2019 | 3.7% | -36.6% |
| 2020 | 4.1% | +12.2% |
| 2021 | 4.6% | +10.7% |
| 2022 | 4.7% | +2.9% |
Vanuatu compared with similar countries
- Vanuatu's 4.7% is below the median for lower middle income countries, which is 6.5%, 72% of the median. (47 countries reporting)
- Vanuatu's 4.7% is below the median for East Asia & Pacific, which is 4.9%, 95% of the median. (32 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Vanuatu 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 |
|---|---|---|---|
| 1998 | +160.5% | 3.7% | 9.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 5.9% | 5.1% | 7.2% | 8 |
| 1990s | 5.5% | 3.7% | 9.6% | 10 |
| 2000s | 6.1% | 2.7% | 11.1% | 10 |
| 2010s | 6.4% | 3.0% | 10.4% | 10 |
| 2020s | 4.5% | 4.1% | 4.7% | 3 |
Countries ranked near Vanuatu
- 116 Poland 5.2% compare
- 117 Bosnia and Herzegovina 4.8% compare
- 118 Switzerland 4.8% compare
- 120 Hungary 4.6% compare
- 121 New Caledonia 4.5% compare
- 122 Finland 4.5% compare
More economy & growth data for Vanuatu
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 0.2699 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.49 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 2.79 million BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0021 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita 8.5 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 28.86 million BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual 211.4 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0222 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 88.05 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate -4.52 % change on previous year (2024)
Frequently asked questions
- What is insurance and financial services in Vanuatu?
- Insurance and financial services in Vanuatu was 4.7% in 2022, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Vanuatu?
- The highest recorded value was 11.1% in 2001.
- What is the lowest insurance and financial services recorded in Vanuatu?
- The lowest recorded value was 2.7% in 2002.
- How does Vanuatu rank for insurance and financial services?
- Vanuatu ranks 119th out of 197 countries with data for 2022.
- Is insurance and financial services rising or falling in Vanuatu?
- Over the last ten years it is down 54.9%. The long-run trend across the full record is flat.
- Where does this Vanuatu 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.
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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.