Aruba's insurance and financial services (% of service exports, BoP) was 1.34% in 2023, the latest year in the World Bank's World Development Indicators. That is up 0.59 percentage points from 0.75% in 2013.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 1.34% | 2023 |
| Five years earlier | 1.17% | 2018 |
| Ten years earlier | 0.75% | 2013 |
| Highest | 4.04% | 1992 |
| Lowest | 0.16% | 2002 |
| Average since 2014 | 1.31% | 2014–2023 |
| First recorded | 0.31% | 1986 |
What the numbers say
In 2023, Aruba's insurance and financial services (% of service exports, BoP) rose 0.12 percentage points on 2022 (from 1.21% to 1.34%).
Across the 30 yearly changes before that (1993 to 2022), the average change was −0.09 percentage points and a typical year strayed about 0.71 percentage points from that (the standard deviation). This year's change was 0.3 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 2.9 percentage points in 1991 and the biggest yearly fall was 1.54 percentage points in 1997. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2014 to 2023 there is no clear straight-line trend: a straight line explains 24% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2023, Aruba had the 11th highest value of the 13 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
| Value | Year | |
|---|---|---|
| Aruba | 1.34% | 2023 |
| World | 11.46% | 2025 |
| Latin America & Caribbean | 5.55% | 2025 |
| High income | 13.33% | 2025 |
Closest to Aruba in the 2023 ranking
- Tuvalu — 7th of 13: 1.87%
- Curaçao — 8th of 13: 1.44%
- Comoros — 9th of 13: 1.36%
- Palau — 11th of 13: 0.33%
- Sint Maarten (Dutch part) — 12th of 13: 0.05%
- Mauritania — 13th of 13: 0.00814%
What this measures
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 exports which are services provided by residents to non-residents.
Regional and income-group figures are computed by the World Bank as a weighted average.
All 38 values
| Year | Insurance and financial services (% of service exports, BoP) |
|---|---|
| 2023 | 1.34 |
| 2022 | 1.21 |
| 2021 | 1.9 |
| 2020 | 3.42 |
| 2019 | 1.04 |
| 2018 | 1.17 |
| 2017 | 0.7505 |
| 2016 | 0.8222 |
| 2015 | 0.8405 |
| 2014 | 0.6664 |
| 2013 |
Insurance and financial services (% of service exports, BoP) in nearby economies
- Antigua and Barbuda — 5.85% (2025)
- Argentina — 2.89% (2025)
- Barbados — 1.23% (2017)
- Belize — 1.79% (2025)
- Bolivia — 5.37% (2025)
- Brazil — 5.61% (2025)
- Chile — 5.98% (2025)
- Colombia — 1.08% (2025)
- Costa Rica — 1.36% (2025)
More economic policy & debt data for Aruba
- Adjusted savings, education expenditure (% of GNI) — 5.75% (2021)
- Adjusted savings, carbon dioxide damage (current US$) — US$57.5 million (2021)
- Adjusted savings, net forest depletion (current US$) — US$64,588 (2021)
- Adjusted savings, mineral depletion (current US$) — US$0 (2021)
- Foreign direct investment, net outflows (BoP, current US$) — US$18.18 million (2025)
- Foreign direct investment, net inflows (BoP, current US$) — US$71.08 million (2025)
- Total reserves, including gold (current US$) — US$2.23 billion (2025)
- Total reserves, excluding gold (current US$) — US$1.79 billion (2025)
- Foreign direct investment, net outflows (% of GDP)
Reading data like this
Questions people ask
- What is Aruba's insurance and financial services (% of service exports, BoP)?
- 1.34% in 2023, according to the World Bank (World Development Indicators).
- How has it changed since 1986?
- It is up 1.02 percentage points from 0.31% in 1986. The highest value was 4.04% in 1992 and the lowest 0.16% in 2002.
- How does Aruba rank?
- 11th highest of 13 economies with data for 2023.
- Is the latest change in insurance and financial services (% of service exports, BoP) unusual for Aruba?
- In 2023, Aruba's insurance and financial services (% of service exports, BoP) rose 0.12 percentage points on 2022 (from 1.21% to 1.34%). Across the 30 yearly changes before that (1993 to 2022), the average change was −0.09 percentage points and a typical year strayed about 0.71 percentage points from that (the standard deviation). This year's change was 0.3 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
Source
World Bank, World Development Indicators, indicator BX.GSR.INSF.ZS, licensed CC BY 4.0. Original source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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