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

Key figures

What the numbers say

In 2021, Marshall Islands' insurance and financial services (% of commercial service imports) rose 0.16 percentage points on 2020 (from 0.12% to 0.29%).

Across the 15 yearly changes before that (2006 to 2020), the average change was −0.19 percentage points and a typical year strayed about 1.85 percentage points from that (the standard deviation). This year's change was 0.2 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 2.71 percentage points in 2013 and the biggest yearly fall was 5.96 percentage points in 2019. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2012 to 2021 there is no clear straight-line trend: a straight line explains 22% 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

See how every economy compares in the full ranking.

Closest to Marshall Islands in the 2021 ranking

• Belarus — 1st of 3: 3.82%
• Congo, Rep. — 2nd of 3: 2.09%

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 17 values

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

• Australia — 2.45% (2025)
• Brunei Darussalam — 2.33% (2025)
• Cambodia — 8.93% (2025)
• China — 3.05% (2025)
• Fiji — 7.88% (2024)
• French Polynesia — 5.2% (2016)
• Hong Kong SAR, China — 12.62% (2025)
• Indonesia — 9.53% (2025)
• Japan

More private sector & trade data for Marshall Islands

• Merchandise trade (% of GDP) — 59.42% (2025)
• Merchandise imports (current US$) — US$111 million (2025)
• Merchandise exports (current US$) — US$72 million (2025)
• Import unit value index (2015 = 100) — 121.2 (2025)
• Export unit value index (2015 = 100) — 119.3 (2025)
• International tourism, number of arrivals — 6,100 (2019)
• International tourism, receipts (current US$) — US$20.1 million (2018)
• Merchandise imports from high-income economies (% of total merchandise imports) — 76.45% (2023)
• Merchandise imports from low- and middle-income economies outside region (% of total merchandise imports)

Reading data like this

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Questions people ask

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

0.29% in 2021, according to the World Bank (World Development Indicators).

How has it changed since 2005?

It is down 2.74 percentage points from 3.02% in 2005. The highest value was 6.48% in 2017 and the lowest 0.11% in 2019.

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

In 2021, Marshall Islands' insurance and financial services (% of commercial service imports) rose 0.16 percentage points on 2020 (from 0.12% to 0.29%). Across the 15 yearly changes before that (2006 to 2020), the average change was −0.19 percentage points and a typical year strayed about 1.85 percentage points from that (the standard deviation). This year's change was 0.2 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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