Tuvalu's insurance and financial services (% of service exports, BoP) was 1.87% in 2023, the latest year in the World Bank's World Development Indicators. That is up 0.07 percentage points from 1.79% in 2013.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 1.87% | 2023 |
| Five years earlier | 0.9% | 2018 |
| Ten years earlier | 1.79% | 2013 |
| Highest | 13.02% | 2021 |
| Lowest | 0.71% | 2019 |
| Average since 2014 | 3.72% | 2014–2023 |
| First recorded | 6.3% | 2001 |
What the numbers say
In 2023, Tuvalu's insurance and financial services (% of service exports, BoP) fell 7.55 percentage points on 2022 (from 9.42% to 1.87%).
Across the 21 yearly changes before that (2002 to 2022), the average change was +0.15 percentage points and a typical year strayed about 2.25 percentage points from that (the standard deviation). This year's change was 3.4 standard deviations below that average, so it was unusually large compared with the rest of the record.
On record, the biggest yearly rise was 6.55 percentage points in 2021 and the biggest yearly fall was 7.55 percentage points in 2023. 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 the straight-line trend is upward, about 0.82 percentage points a year. A straight line explains 32% 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 2023, Tuvalu had the 8th 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 | |
|---|---|---|
| Tuvalu | 1.87% | 2023 |
| World | 11.46% | 2025 |
| East Asia & Pacific | 8.13% | 2025 |
| Upper middle income | 2.86% | 2025 |
Closest to Tuvalu in the 2023 ranking
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 23 values
| Year | Insurance and financial services (% of service exports, BoP) |
|---|---|
| 2023 | 1.87 |
| 2022 | 9.42 |
| 2021 | 13.02 |
| 2020 | 6.47 |
| 2019 | 0.7113 |
| 2018 | 0.898 |
| 2017 | 0.9297 |
| 2016 | 1.04 |
| 2015 | 1.15 |
| 2014 | 1.69 |
| 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 Tuvalu
- GDP (current US$) — US$57.35 million (2025)
- GDP (current LCU) — 89 million (2025)
- GDP (constant 2015 US$) — US$42.97 million (2025)
- GDP (constant LCU) — 62 million (2025)
- GDP per capita (current US$) — US$6,041 (2025)
- GDP per capita (current LCU) — 9,376 (2025)
- GDP per capita (constant 2015 US$) — US$4,527 (2025)
- GDP per capita (constant LCU) — 6,532 (2025)
- GNI (current US$) — US$93.35 million (2025)
- GNI (current LCU) — 144.89 million (2025)
- GNI per capita (current LCU) — 15,264 (2025)
Reading data like this
Questions people ask
- What is Tuvalu's insurance and financial services (% of service exports, BoP)?
- 1.87% in 2023, according to the World Bank (World Development Indicators).
- How has it changed since 2001?
- It is down 4.43 percentage points from 6.3% in 2001. The highest value was 13.02% in 2021 and the lowest 0.71% in 2019.
- How does Tuvalu rank?
- 8th highest of 13 economies with data for 2023.
- Is the latest change in insurance and financial services (% of service exports, BoP) unusual for Tuvalu?
- In 2023, Tuvalu's insurance and financial services (% of service exports, BoP) fell 7.55 percentage points on 2022 (from 9.42% to 1.87%). Across the 21 yearly changes before that (2002 to 2022), the average change was +0.15 percentage points and a typical year strayed about 2.25 percentage points from that (the standard deviation). This year's change was 3.4 standard deviations below that average, so it was unusually large compared with the rest of the record.
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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