Guinea-Bissau's insurance and financial services (% of service imports, BoP) was 3.9% in 2024, the latest year in the World Bank's World Development Indicators. That is down 0.93 percentage points from 4.83% in 2014.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 3.9% | 2024 |
| Five years earlier | 3.21% | 2019 |
| Ten years earlier | 4.83% | 2014 |
| Highest | 6.42% | 2011 |
| Lowest | 0.16% | 2001 |
| Average since 2015 | 3.49% | 2015–2024 |
| First recorded | 5% | 1982 |
What the numbers say
In 2024, Guinea-Bissau's insurance and financial services (% of service imports, BoP) rose 1.28 percentage points on 2023 (from 2.62% to 3.9%).
Across the 30 yearly changes before that (1990 to 2023), the average change was +0.15 percentage points and a typical year strayed about 1.72 percentage points from that (the standard deviation). This year's change was 0.7 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 3.8 percentage points in 2005 and the biggest yearly fall was 4.69 percentage points in 2012. 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 downward, about 0.23 percentage points a year. A straight line explains 32% 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 18th highest value of the 27 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 | 3.9% | 2024 |
| World | 9.53% | 2025 |
| Sub-Saharan Africa | 8.42% | 2025 |
| Low income | 10.18% | 2024 |
Closest to Guinea-Bissau in the 2024 ranking
- Mauritius — 15th of 27: 6.57%
- Haiti — 16th of 27: 4.39%
- Mali — 17th of 27: 4.03%
- Côte d'Ivoire — 19th of 27: 3.87%
- Rwanda — 20th of 27: 3.82%
- Solomon Islands — 21st of 27: 3.7%
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 imports which are services provided by non-residents to residents.
Regional and income-group figures are computed by the World Bank as a weighted average.
All 40 values
| Year | Insurance and financial services (% of service imports, BoP) |
|---|---|
| 2024 | 3.9 |
| 2023 | 2.62 |
| 2022 | 2.73 |
| 2021 | 2.63 |
| 2020 | 2.87 |
| 2019 | 3.21 |
| 2018 | 3.71 |
| 2017 | 2.35 |
| 2016 | 4.55 |
| 2015 | 6.35 |
| 2014 |
Insurance and financial services (% of service imports, BoP) in nearby economies
- Angola — 6.83% (2025)
- Benin — 2.66% (2023)
- Botswana — 0.57% (2025)
- Burkina Faso — 16.1% (2024)
- Burundi — 10.15% (2025)
- Cabo Verde — 3.51% (2025)
- Cameroon — 9.24% (2024)
- Comoros — 6.49% (2023)
- Congo, Dem. Rep. — 18.25% (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 imports, BoP)?
- 3.9% in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1982?
- It is down 1.1 percentage points from 5% in 1982. The highest value was 6.42% in 2011 and the lowest 0.16% in 2001.
- How does Guinea-Bissau rank?
- 18th highest of 27 economies with data for 2024.
- Is the latest change in insurance and financial services (% of service imports, BoP) unusual for Guinea-Bissau?
- In 2024, Guinea-Bissau's insurance and financial services (% of service imports, BoP) rose 1.28 percentage points on 2023 (from 2.62% to 3.9%). Across the 30 yearly changes before that (1990 to 2023), the average change was +0.15 percentage points and a typical year strayed about 1.72 percentage points from that (the standard deviation). This year's change was 0.7 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 BM.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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