Guinea-Bissau's insurance and financial services (% of service exports, BoP) was 20.68% in 2024, the latest year in the World Bank's World Development Indicators. That is up 18.29 percentage points from 2.4% in 2014.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 20.68% | 2024 |
| Five years earlier | 8.57% | 2019 |
| Ten years earlier | 2.4% | 2014 |
| Highest | 21.49% | 2020 |
| Lowest | 0.41% | 2011 |
| Average since 2015 | 12.11% | 2015–2024 |
| First recorded | 1.68% | 2001 |
What the numbers say
In 2024, Guinea-Bissau's insurance and financial services (% of service exports, BoP) rose 6.83 percentage points on 2023 (from 13.85% to 20.68%).
Across the 20 yearly changes before that (2002 to 2023), the average change was +1.13 percentage points and a typical year strayed about 5.1 percentage points from that (the standard deviation). This year's change was 1.1 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 12.91 percentage points in 2020 and the biggest yearly fall was 9.89 percentage points in 2011. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 the straight-line trend is upward, about 1.43 percentage points a year. A straight line explains 61% 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
In 2024, Guinea-Bissau had the 3rd highest value of the 23 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 | |
|---|---|---|
| Guinea-Bissau | 20.68% | 2024 |
| World | 11.46% | 2025 |
| Sub-Saharan Africa | 10.19% | 2025 |
| Low income | 2.12% | 2024 |
Closest to Guinea-Bissau in the 2024 ranking
- Sierra Leone — 1st of 23: 32.73%
- Liberia — 2nd of 23: 30.27%
- Haiti — 4th of 23: 19.08%
- Burkina Faso — 5th of 23: 15.36%
- Guinea — 6th of 23: 13.93%
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 23 values
| Year | Insurance and financial services (% of service exports, BoP) |
|---|---|
| 2024 | 20.68 |
| 2023 | 13.85 |
| 2022 | 13.74 |
| 2021 | 13.57 |
| 2020 | 21.49 |
| 2019 | 8.57 |
| 2018 | 8.58 |
| 2017 | 7.81 |
| 2016 | 5.74 |
| 2015 | 7.12 |
| 2014 |
Insurance and financial services (% of service exports, BoP) in nearby economies
- Angola — 0.0077% (2025)
- Benin — 11.18% (2023)
- Botswana — 0.32% (2025)
- Burkina Faso — 15.36% (2024)
- Burundi — 8.15% (2025)
- Cabo Verde — 0.34% (2025)
- Cameroon — 3.8% (2024)
- Comoros — 1.36% (2023)
- Congo, Dem. Rep. — 0.41% (2025)
More economic policy & debt data for Guinea-Bissau
- Net bilateral aid flows from DAC donors, Total (current US$) — US$61.31 million (2023)
- Net official development assistance and official aid received (current US$) — US$188.91 million (2023)
- Net official development assistance and official aid received (constant 2023 US$) — US$188.91 million (2023)
- Net official development assistance received (current US$) — US$188.91 million (2023)
- Net official development assistance received (constant 2023 US$) — US$188.91 million (2023)
- Net ODA received per capita (current US$) — US$87.73 (2023)
- General government final consumption expenditure (current US$) — US$391.44 million (2025)
- General government final consumption expenditure (current LCU)
Reading data like this
Questions people ask
- What is Guinea-Bissau's insurance and financial services (% of service exports, BoP)?
- 20.68% in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 2001?
- It is up 19 percentage points from 1.68% in 2001. The highest value was 21.49% in 2020 and the lowest 0.41% in 2011.
- How does Guinea-Bissau rank?
- 3rd highest of 23 economies with data for 2024.
- Is the latest change in insurance and financial services (% of service exports, BoP) unusual for Guinea-Bissau?
- In 2024, Guinea-Bissau's insurance and financial services (% of service exports, BoP) rose 6.83 percentage points on 2023 (from 13.85% to 20.68%). Across the 20 yearly changes before that (2002 to 2023), the average change was +1.13 percentage points and a typical year strayed about 5.1 percentage points from that (the standard deviation). This year's change was 1.1 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 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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