Rwanda's insurance and financial services (% of service imports, BoP) was 3.82% in 2024, the latest year in the World Bank's World Development Indicators. That is up 2.9 percentage points from 0.92% in 2014.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 3.82% | 2024 |
| Five years earlier | 1.43% | 2019 |
| Ten years earlier | 0.92% | 2014 |
| Highest | 7.17% | 2021 |
| Lowest | 0.5% | 2011 |
| Average since 2015 | 2.59% | 2015–2024 |
| First recorded | 0.59% | 2010 |
What the numbers say
In 2024, Rwanda's insurance and financial services (% of service imports, BoP) fell 0.24 percentage points on 2023 (from 4.07% to 3.82%).
Across the 13 yearly changes before that (2011 to 2023), the average change was +0.27 percentage points and a typical year strayed about 2.09 percentage points from that (the standard deviation). This year's change was 0.2 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 4.48 percentage points in 2021 and the biggest yearly fall was 5.21 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 2015 to 2024 the straight-line trend is upward, about 0.41 percentage points a year. A straight line explains 41% 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, Rwanda had the 21st 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.
| Value | Year | |
|---|---|---|
| Rwanda | 3.82% | 2024 |
| World | 9.53% | 2025 |
| Sub-Saharan Africa | 8.42% | 2025 |
| Low income | 10.18% | 2024 |
Closest to Rwanda in the 2024 ranking
- Mali — 17th of 27: 4.03%
- Guinea-Bissau — 18th of 27: 3.9%
- Côte d'Ivoire — 19th of 27: 3.87%
- Solomon Islands — 21st of 27: 3.7%
- Malta — 22nd of 27: 2.59%
- Djibouti — 23rd of 27: 2.56%
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 15 values
| Year | Insurance and financial services (% of service imports, BoP) |
|---|---|
| 2024 | 3.82 |
| 2023 | 4.07 |
| 2022 | 1.96 |
| 2021 | 7.17 |
| 2020 | 2.69 |
| 2019 | 1.43 |
| 2018 | 1.37 |
| 2017 | 1.35 |
| 2016 | 1.08 |
| 2015 | 0.9442 |
| 2014 |
Insurance and financial services (% of service imports, BoP) in nearby economies
- Angola — 6.83% (2025)
- Benin — 2.66% (2023)
- Botswana — 0.57% (2025)
- Burkina Faso — 16.1% (2024)
- Burundi — 10.15% (2025)
- Cabo Verde — 3.51% (2025)
- Cameroon — 9.24% (2024)
- Comoros — 6.49% (2023)
- Congo, Dem. Rep. — 18.25% (2025)
More economic policy & debt data for Rwanda
- General government final consumption expenditure (current US$) — US$2.47 billion (2025)
- General government final consumption expenditure (current LCU) — 3.52 trillion (2025)
- General government final consumption expenditure (constant 2015 US$) — US$2.46 billion (2025)
- General government final consumption expenditure (constant LCU) — 3.28 trillion (2025)
- General government final consumption expenditure (% of GDP) — 15.06% (2025)
- Households and NPISHs final consumption expenditure (current US$) — US$10.54 billion (2025)
- Households and NPISHs final consumption expenditure (current LCU) — 15.06 trillion (2025)
- Households and NPISHs final consumption expenditure (constant 2015 US$)
Reading data like this
Questions people ask
- What is Rwanda's insurance and financial services (% of service imports, BoP)?
- 3.82% in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 2010?
- It is up 3.24 percentage points from 0.59% in 2010. The highest value was 7.17% in 2021 and the lowest 0.5% in 2011.
- How does Rwanda rank?
- 21st highest of 27 economies with data for 2024.
- Is the latest change in insurance and financial services (% of service imports, BoP) unusual for Rwanda?
- In 2024, Rwanda's insurance and financial services (% of service imports, BoP) fell 0.24 percentage points on 2023 (from 4.07% to 3.82%). Across the 13 yearly changes before that (2011 to 2023), the average change was +0.27 percentage points and a typical year strayed about 2.09 percentage points from that (the standard deviation). This year's change was 0.2 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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