Luxembourg: Insurance and financial services (% of commercial service imports)

Key figures

What the numbers say

In 2025, Luxembourg's insurance and financial services (% of commercial service imports) rose 2.28 percentage points on 2024 (from 42.29% to 44.57%).

Across the 25 yearly changes before that (2000 to 2024), the average change was −0.66 percentage points and a typical year strayed about 3.41 percentage points from that (the standard deviation). This year's change was 0.9 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 11.1 percentage points in 2002 and the biggest yearly fall was 4.91 percentage points in 2008. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2016 to 2025 the straight-line trend is downward, about 1.45 percentage points a year. A straight line explains 90% 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 2025, Luxembourg had the 2nd highest value of the 134 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.

Closest to Luxembourg in the 2025 ranking

• Bahrain — 2nd of 134: 33.83%
• Macao SAR, China — 3rd of 134: 23.71%
• United States — 4th of 134: 23.58%

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 imports which are commercial services provided by non-residents to 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 27 values

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

• Albania — 3.27% (2025)
• Armenia — 8.92% (2025)
• Austria — 4.28% (2025)
• Azerbaijan — 2.72% (2025)
• Belarus — 3.82% (2021)
• Belgium — 9.03% (2025)
• Bosnia and Herzegovina — 4.55% (2025)
• Bulgaria — 6.32% (2025)
• Croatia

More private sector & trade data for Luxembourg

• Merchandise trade (% of GDP) — 46.03% (2025)
• Agricultural raw materials imports (% of merchandise imports) — 2.09% (2025)
• Food imports (% of merchandise imports) — 14.97% (2025)
• Fuel imports (% of merchandise imports) — 5.71% (2025)
• Manufactures imports (% of merchandise imports) — 66.87% (2025)
• Ores and metals imports (% of merchandise imports) — 5.19% (2025)
• Merchandise imports from economies in the Arab World (% of total merchandise imports) — 0.16% (2023)
• Merchandise imports (current US$) — US$28.17 billion (2025)
• Merchandise imports from high-income economies (% of total merchandise imports)

Reading data like this

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Questions people ask

What is Luxembourg's insurance and financial services (% of commercial service imports)?

44.57% in 2025, according to the World Bank (World Development Indicators).

How has it changed since 1999?

It is down 14.17 percentage points from 58.74% in 1999. The highest value was 71.86% in 2007 and the lowest 42.29% in 2024.

How does Luxembourg rank?

2nd highest of 134 economies with data for 2025.

Is the latest change in insurance and financial services (% of commercial service imports) unusual for Luxembourg?

In 2025, Luxembourg's insurance and financial services (% of commercial service imports) rose 2.28 percentage points on 2024 (from 42.29% to 44.57%). Across the 25 yearly changes before that (2000 to 2024), the average change was −0.66 percentage points and a typical year strayed about 3.41 percentage points from that (the standard deviation). This year's change was 0.9 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 TM.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.

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