In 2023, the U.S. led the global financial services and insurance sectors, constituting 44.45% of the Gross Value Added share, followed by China at 32.68%. Japan, Brazil, and Australia trailed significantly. Notable growth occurred in Bangladesh (9.98%), China (7.57%), and Zambia (6.34%), while Russia and Afghanistan faced declines of -3.02% and -14.58%, respectively. Over five years, the U.S. maintained a robust presence, ensuring sustained dominance.
Looking forward, watch for China's continued ascent and possible shifts from emerging markets like Bangladesh. Developments in digital finance and insurance regulation reforms could dramatically reshape market dynamics.
Top countries in Financial Services and Insurance Gross Value Added Share by Country (Million US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 44.45 | 2023 | +4.7% | +5.74% | View data |
| 2 | 2 China | 32.68 | 2023 | +6.83% | +7.57% | View data |
| 3 | 3 Japan | 4.51 | 2023 | -0.27% | +0.6% | View data |
| 4 | 4 Brazil | 2.89 | 2023 | +10.25% | +3.25% | View data |
| 5 | 5 Australia | 2.68 | 2023 | +1.8% | +2.94% | View data |
| 6 | 6 Canada | 2.56 | 2023 | +1.2% | +1.18% | View data |
| 7 | 7 South Korea | 2.34 | 2023 | +3.71% | +3.03% | View data |
| 8 | 8 South Africa | 1.23 | 2023 | +0.84% | -0.46% | View data |
| 9 | 9 Mexico | 1.2 | 2023 | +6.24% | +2.67% | View data |
| 10 | 10 Indonesia | 1.19 | 2023 | +2.61% | +5.26% | View data |
