Fragility, Conflict, and Violence (FCV) situations: Insurance and financial services (% of commercial service exports)

Key figures

What the numbers say

In 2023, Fragility, Conflict, and Violence (FCV) situations' insurance and financial services (% of commercial service exports) rose 3.93 percentage points on 2022 (from 10.25% to 14.18%).

Across the 13 yearly changes before that (2006 to 2022), the average change was +0.61 percentage points and a typical year strayed about 1.88 percentage points from that (the standard deviation). This year's change was 1.8 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

On record, the biggest yearly rise was 4.52 percentage points in 2015 and the biggest yearly fall was 2.98 percentage points in 2016. 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 the straight-line trend is upward, about 0.72 percentage points a year. A straight line explains 65% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

See how every economy compares in the full ranking.

What this measures

Financial services covers services related to financial intermediation, financial risk management, liquidity transformation or auxiliary financial activities. It also includes insurance and pension scheme services which are services related to providing life insurance and annuities, non-life insurance, reinsurance, pensions, standardised guarantees and auxiliary services to insurance, pension schemes, and standardised guarantee schemes. This indicator is expressed as a percentage of service exports which are commercial services provided by residents to non-residents.

Limitations: Balance of payments statistics, the main source of information on international trade in services, have many weaknesses. Disaggregation of important components may be limited and varies considerably across countries. There are inconsistencies in the methods used to report items. And the recording of major flows as net items is common (for example, insurance transactions are often recorded as premiums less claims). These factors contribute to a downward bias in the value of the service trade reported in the balance of payments. Efforts are being made to improve the coverage, quality, and consistency of these data.

Regional and income-group figures are computed by the World Bank as a weighted average.

All 18 values

Insurance and financial services (% of commercial service exports) in nearby economies

• Afghanistan — 0.43% (2020)
• Algeria — 10.93% (2025)
• Bahrain — 29.02% (2025)
• Egypt, Arab Rep. — 3.06% (2025)
• Iraq — 0.14% (2025)
• Israel — 0.06% (2025)
• Jordan — 1.29% (2024)
• Kuwait — 9.68% (2025)
• Lebanon

More private sector & trade data for Fragility, Conflict, and Violence (FCV) situations

• Merchandise trade (% of GDP) — 48.57% (2025)
• Merchandise imports (current US$) — US$466.89 billion (2025)
• Merchandise exports (current US$) — US$453.63 billion (2025)
• Merchandise imports from economies in the Arab World (% of total merchandise imports) — 11.51% (2023)
• Merchandise imports from high-income economies (% of total merchandise imports) — 49.34% (2023)
• Merchandise imports from low- and middle-income economies outside region (% of total merchandise imports) — 39.43% (2023)
• Merchandise imports from low- and middle-income economies in East Asia & Pacific (% of total merchandise imports)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Fragility, Conflict, and Violence (FCV) situations's insurance and financial services (% of commercial service exports)?

14.18% in 2023, according to the World Bank (World Development Indicators).

How has it changed since 2000?

It is up 8.71 percentage points from 5.48% in 2000. The highest value was 14.18% in 2023 and the lowest 2.21% in 2008.

Is the latest change in insurance and financial services (% of commercial service exports) unusual for Fragility, Conflict, and Violence (FCV) situations?

In 2023, Fragility, Conflict, and Violence (FCV) situations' insurance and financial services (% of commercial service exports) rose 3.93 percentage points on 2022 (from 10.25% to 14.18%). Across the 13 yearly changes before that (2006 to 2022), the average change was +0.61 percentage points and a typical year strayed about 1.88 percentage points from that (the standard deviation). This year's change was 1.8 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

Source

World Bank, World Development Indicators, indicator TX.VAL.INSF.ZS.WT, 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.

Want to ask your own questions of data like this? Try AnalyzeIt: upload a file or ask about public data in plain words, and every figure comes with its working.