The share of insurance and financial services in service exports in Canada has shown fluctuations from 2013 to 2023, with a peak in 2020 at 11.48% and a low of 9.01% in 2019. The percentage variation between 2022 and 2023 is minor at 0.19%. Over the last two years, the share increased by 0.06 percentage points. However, the Compound Annual Growth Rate (CAGR) for the last five years stands at -0.04%, indicating a general decline. The forecast for 2028 anticipates a slight decrease to 10.28%.
Future trends to watch for include potential impacts of economic fluctuations, regulatory changes, and technological advancements in financial services, which could influence the share of these services in Canada's export profile.
