Insurance and financial services exports in the Middle East & North Africa have shown significant fluctuation from 2013 to 2023. The value in 2023 stood at 10.48 units. From 2015's high of 11.16 units, a dip to 8.2 units in 2016 was observed, followed by a gradual upward trajectory. The year-on-year growth over the last two years was modest, with a consistent increase of around 2.8%. The compound annual growth rate (CAGR) over the last five years was 2.83%, indicating stable but slow growth.
Forecasted data for 2024-2028 shows a continued incremental rise, with a forecasted 2028 value of 11.77 units. This suggests an average annual growth rate of 1.84% and a cumulative five-year growth rate of 9.56%.
Future trends to watch for include regulatory changes, economic diversification initiatives, and digital transformation in the finance sector. These factors could significantly impact exports and growth rates in the coming years.
