In 2023, the share of Insurance and Financial Services in Singapore's service exports stood at 16.51 units. From 2022 to 2023, there was a year-on-year increase of 1.85%. Over the last two years, a decline was observed from 19.71 units in 2020 to 16.51 units in 2023, indicating a variation rate of -16.24%. The Compound Annual Growth Rate (CAGR) from 2018 to 2023 averaged -2.41%, reflecting a decrease in the earlier years before a slight recovery.

Forecast data reveals a gradual upward trend, with the share expected to reach 17.88 units by 2028, representing a forecasted 5-year growth rate of 6.49% and a CAGR of 1.26%. This indicates a modest but consistent growth trajectory after a period of fluctuation.

Future trends to watch for: