Small states: CPIA financial sector rating (1=low to 6=high)

Key figures

What the numbers say

In 2025, Small states' CPIA financial sector rating (1=low to 6=high) rose 0.06 on 2024 (from 2.96 to 3.02).

Across the 19 yearly changes before that (2006 to 2024), the average change was −0.02 and a typical year strayed about 0.04 from that (the standard deviation). This year's change was 2.1 standard deviations above that average, so it was unusually large compared with the rest of the record.

On record, the biggest yearly rise was 0.06 in 2025 and the biggest yearly fall was 0.11 in 2012. 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 1% 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.

What this measures

The CPIA measures the extent to which a country’s policy and institutional framework supports sustainable growth and poverty reduction, and consequently the effective use of development assistance. The outcome of the exercise yields both an overall score and scores for sixteen criteria that compose the CPIA. These criteria include: A. Economic Management (1. Monetary and Exchange Rate Policies; 2. Fiscal Policy; 3. Debt Policy and Management), B. Structural Policies (4. Trade; 5. Financial Sector; 6. Business Regulatory Environment), C. Policies for Social Inclusion/Equity (7. Gender equality; 8. Equity of public resource use; 9. Building human resources; 10. Social protection and labor; 11. Policies and institutions for environmental sustainability), D. Public Sector Management and Institutions (12. Property rights and rule-based governance; 13. Quality of budgetary and financial management; 14. Efficiency of revenue mobilization; 15. Quality of public administration; 16. Transparency, accountability, and corruption in the public sector). The financial sector criterion assesses the policies and regulations that affect financial sector development. Three dimensions are covered: (a) financial stability; (b) the sector’s efficiency, depth, and resource mobilization strength; and (c) access to financial services.

Limitations: The CPIA exercise is intended to capture the quality of a country's policies and institutional arrangements, focusing on key elements that are within the country's control, rather than on outcomes (such as economic growth rates) that are influenced by events beyond the country's control. More specifically, the CPIA measures the extent to which a country's policy and institutional framework supports sustainable growth and poverty reduction and, consequently, the effective use of development assistance.

Regional and income-group figures are computed by the World Bank as a unweighted average.

All 21 values

CPIA financial sector rating (1=low to 6=high) in nearby economies

• Afghanistan — 1.5 (2025)
• Djibouti — 3 (2025)
• Pakistan — 3.5 (2025)
• Yemen, Rep. — 1.5 (2025)

More public sector data for Small states

• Grants and other revenue (% of revenue) — 12.79% (2022)
• Social contributions (% of revenue) — 21.09% (2019)
• Interest payments (% of revenue) — 1.78% (2022)
• Taxes on goods and services (% of revenue) — 33.44% (2022)
• Taxes on income, profits and capital gains (% of revenue) — 24.12% (2022)
• Military expenditure (% of GDP) — 1.32% (2025)
• Taxes on international trade (% of revenue) — 1.18% (2019)
• Compensation of employees (% of expense) — 21.87% (2022)
• Goods and services expense (% of expense) — 10.08% (2022)

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Questions people ask

What is Small states's CPIA financial sector rating (1=low to 6=high)?

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

How has it changed since 2005?

It is down 11.31% from 3.41 in 2005 (0.6% a year on average, compounded). The highest value was 3.41 in 2005 and the lowest 2.93 in 2021.

Is the latest change in CPIA financial sector rating (1=low to 6=high) unusual for Small states?

In 2025, Small states' CPIA financial sector rating (1=low to 6=high) rose 0.06 on 2024 (from 2.96 to 3.02). Across the 19 yearly changes before that (2006 to 2024), the average change was −0.02 and a typical year strayed about 0.04 from that (the standard deviation). This year's change was 2.1 standard deviations above that average, so it was unusually large compared with the rest of the record.

Where does this data come from?

The World Bank's World Development Indicators, licensed CC BY 4.0. Original source: CPIA database, World Bank Group (WBG), uri: http://www.worldbank.org/ida.

Source

World Bank, World Development Indicators, indicator IQ.CPA.FINS.XQ, licensed CC BY 4.0. Original source: CPIA database, World Bank Group (WBG), uri: http://www.worldbank.org/ida 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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