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

Key figures

What the numbers say

In 2025, Oman's insurance and financial services (% of commercial service imports) fell 1.56 percentage points on 2024 (from 14.51% to 12.95%).

Across the 30 yearly changes before that (1995 to 2024), the average change was +0.33 percentage points and a typical year strayed about 1.85 percentage points from that (the standard deviation). This year's change was 1.0 standard deviations below 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 5.57 percentage points in 2020 and the biggest yearly fall was 2.49 percentage points in 2022. 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 there is no clear straight-line trend: a straight line explains 11% 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

In 2025, Oman had the 23rd 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 Oman in the 2025 ranking

• St. Vincent and the Grenadines — 19th of 134: 13.5%
• Gambia, The — 20th of 134: 13.45%
• Dominica — 21st of 134: 13.03%
• New Zealand — 23rd of 134: 12.92%
• Japan — 24th of 134: 12.86%
• Hong Kong SAR, China — 25th of 134: 12.62%

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 52 values

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

• Afghanistan — 1.4% (2020)
• Algeria — 2.14% (2025)
• Bahrain — 33.83% (2025)
• Djibouti — 2.69% (2024)
• Egypt, Arab Rep. — 12.03% (2025)
• Iraq — 21.42% (2025)
• Israel — 1.33% (2025)
• Jordan — 11.67% (2024)
• Kuwait

More private sector & trade data for Oman

• Merchandise trade (% of GDP) — 91.03% (2025)
• Merchandise imports (current US$) — US$44.5 billion (2025)
• Merchandise exports (current US$) — US$55.28 billion (2025)
• Merchandise imports from economies in the Arab World (% of total merchandise imports) — 53.13% (2023)
• Merchandise imports from high-income economies (% of total merchandise imports) — 71% (2023)
• Merchandise imports from low- and middle-income economies outside region (% of total merchandise imports) — 25.7% (2023)
• Merchandise imports from low- and middle-income economies in East Asia & Pacific (% of total merchandise imports) — 10.77% (2023)
• Merchandise imports from low- and middle-income economies in Middle East & North Africa (% of total merchandise imports)

Reading data like this

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Questions people ask

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

12.95% in 2025, according to the World Bank (World Development Indicators).

How has it changed since 1974?

It is up 7.03 percentage points from 5.92% in 1974. The highest value was 17.84% in 2020 and the lowest 3.61% in 1991.

How does Oman rank?

23rd highest of 134 economies with data for 2025.

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

In 2025, Oman's insurance and financial services (% of commercial service imports) fell 1.56 percentage points on 2024 (from 14.51% to 12.95%). Across the 30 yearly changes before that (1995 to 2024), the average change was +0.33 percentage points and a typical year strayed about 1.85 percentage points from that (the standard deviation). This year's change was 1.0 standard deviations below 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 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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