Nicaragua: Insurance and financial services (% of service imports, BoP)

Key figures

What the numbers say

In 2024, Nicaragua's insurance and financial services (% of service imports, BoP) fell 0.02 percentage points on 2023 (from 15.97% to 15.95%).

Across the 30 yearly changes before that (1994 to 2023), the average change was +0.43 percentage points and a typical year strayed about 1.73 percentage points from that (the standard deviation). This year's change was 0.3 standard deviations below 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 33.4 percentage points in 1979 and the biggest yearly fall was 32.67 percentage points in 1978. 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 0.85 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

In 2024, Nicaragua had the 3rd 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.

Closest to Nicaragua in the 2024 ranking

• Burkina Faso — 1st of 27: 16.1%
• Ethiopia — 3rd of 27: 13.28%
• Kyrgyz Republic — 4th of 27: 11.66%
• Bahamas, The — 5th of 27: 11.28%

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 48 values

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

• Antigua and Barbuda — 10.21% (2025)
• Argentina — 4.16% (2025)
• Aruba — 6.19% (2023)
• Bahamas, The — 11.28% (2024)
• Barbados — 6.27% (2017)
• Belize — 13.97% (2025)
• Bolivia — 9.98% (2025)
• Brazil — 3.16% (2025)
• Chile — 11.7% (2025)

More economic policy & debt data for Nicaragua

• General government final consumption expenditure (current US$) — US$2.53 billion (2025)
• General government final consumption expenditure (current LCU) — 92.55 billion (2025)
• General government final consumption expenditure (constant 2015 US$) — US$2.07 billion (2025)
• General government final consumption expenditure (constant LCU) — 29.48 billion (2025)
• General government final consumption expenditure (% of GDP) — 11.36% (2025)
• Households and NPISHs final consumption expenditure (constant 2015 US$) — US$13.16 billion (2025)
• Households and NPISHs final consumption expenditure (constant LCU) — 195.05 billion (2025)
• Households and NPISHs final consumption expenditure per capita (constant 2015 US$)

Reading data like this

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Questions people ask

What is Nicaragua's insurance and financial services (% of service imports, BoP)?

15.95% in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1977?

It is up 10.2 percentage points from 5.75% in 1977. The highest value was 17.46% in 2020 and the lowest -26.92% in 1978.

How does Nicaragua rank?

3rd highest of 27 economies with data for 2024.

Is the latest change in insurance and financial services (% of service imports, BoP) unusual for Nicaragua?

In 2024, Nicaragua's insurance and financial services (% of service imports, BoP) fell 0.02 percentage points on 2023 (from 15.97% to 15.95%). Across the 30 yearly changes before that (1994 to 2023), the average change was +0.43 percentage points and a typical year strayed about 1.73 percentage points from that (the standard deviation). This year's change was 0.3 standard deviations below 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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