Palau's insurance and financial services (% of service exports, BoP) was 0.33% in 2023, the latest year in the World Bank's World Development Indicators. That is down 0.2 percentage points from 0.53% in 2013.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 0.33% | 2023 |
| Five years earlier | 0.77% | 2018 |
| Ten years earlier | 0.53% | 2013 |
| Highest | 6.23% | 2021 |
| Lowest | 0.33% | 2023 |
| Average since 2014 | 1.45% | 2014–2023 |
| First recorded | 0.69% | 2005 |
What the numbers say
In 2023, Palau's insurance and financial services (% of service exports, BoP) fell 1.99 percentage points on 2022 (from 2.32% to 0.33%).
Across the 17 yearly changes before that (2006 to 2022), the average change was +0.1 percentage points and a typical year strayed about 1.51 percentage points from that (the standard deviation). This year's change was 1.4 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 4.53 percentage points in 2021 and the biggest yearly fall was 3.91 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 2014 to 2023 there is no clear straight-line trend: a straight line explains 20% 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 2023, Palau had the 12th highest value of the 13 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 | |
|---|---|---|
| Palau | 0.33% | 2023 |
| World | 11.46% | 2025 |
| East Asia & Pacific | 8.13% | 2025 |
| High income | 13.33% | 2025 |
Closest to Palau in the 2023 ranking
- Curaçao — 8th of 13: 1.44%
- Comoros — 9th of 13: 1.36%
- Aruba — 10th of 13: 1.34%
- Sint Maarten (Dutch part) — 12th of 13: 0.05%
- Mauritania — 13th of 13: 0.00814%
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 exports which are services provided by residents to non-residents.
Regional and income-group figures are computed by the World Bank as a weighted average.
All 19 values
| Year | Insurance and financial services (% of service exports, BoP) |
|---|---|
| 2023 | 0.3296 |
| 2022 | 2.32 |
| 2021 | 6.23 |
| 2020 | 1.69 |
| 2019 | 0.9316 |
| 2018 | 0.7672 |
| 2017 | 0.6881 |
| 2016 | 0.5846 |
| 2015 | 0.4303 |
| 2014 | 0.4881 |
| 2013 |
Insurance and financial services (% of service exports, BoP) in nearby economies
- Australia — 4.71% (2025)
- Brunei Darussalam — 1.91% (2025)
- Cambodia — 0.33% (2025)
- China — 1.46% (2025)
- Fiji — 0.31% (2024)
- French Polynesia — 0.88% (2016)
- Hong Kong SAR, China — 28.76% (2025)
- Indonesia — 3.94% (2025)
- Japan — 7.37% (2025)
More economic policy & debt data for Palau
- GDP (current US$) — US$345 million (2025)
- GDP (current LCU) — 345 million (2025)
- GDP (constant 2015 US$) — US$275.84 million (2025)
- GDP (constant LCU) — 280 million (2025)
- GDP per capita (current US$) — US$19,532 (2025)
- GDP per capita (current LCU) — 19,532 (2025)
- GDP per capita (constant 2015 US$) — US$15,617 (2025)
- GDP per capita (constant LCU) — 15,852 (2025)
- GNI (current US$) — US$351.4 million (2025)
- GNI (current LCU) — 351.4 million (2025)
- GNI per capita (current LCU) — 19,895 (2025)
- GDP (annual % growth)
Reading data like this
Questions people ask
- What is Palau's insurance and financial services (% of service exports, BoP)?
- 0.33% in 2023, according to the World Bank (World Development Indicators).
- How has it changed since 2005?
- It is down 0.36 percentage points from 0.69% in 2005. The highest value was 6.23% in 2021 and the lowest 0.33% in 2023.
- How does Palau rank?
- 12th highest of 13 economies with data for 2023.
- Is the latest change in insurance and financial services (% of service exports, BoP) unusual for Palau?
- In 2023, Palau's insurance and financial services (% of service exports, BoP) fell 1.99 percentage points on 2022 (from 2.32% to 0.33%). Across the 17 yearly changes before that (2006 to 2022), the average change was +0.1 percentage points and a typical year strayed about 1.51 percentage points from that (the standard deviation). This year's change was 1.4 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 BX.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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