Insurance and Financial Services (As % of Service Exports, BoP) fell to 2.69% in Czech Republic in 2016

Insurance and Financial Services (As % of Service Exports, BoP) (%)
Insurance | Czech Republic | July 14, 2018
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Excel Sheet

Insurance and financial services as a percentage of service exports from the balance of payment reached 2.69 % in 2016 in Czech Republic, according to the National Central Bank / OECD. This is 7 % less than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Czech Republic reached an all time high of 8.06 % in 1993 and an all time low of 0.854 % in 1995. When compared to Czech Republic's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Austria amounted to 5.22 %, 1.22 % in Hungary, 2.52 % in Poland and 2.32 % in Slovakia in 2016.

Czech Republic has been ranked 41st within the group of 75 countries we follow in terms of insurance and financial services as a percentage of service exports from the balance of payment, 10 places above the position seen 10 years ago.

Insurance and financial services cover various types of insurance provided to non-residents 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 non-residents.

Insurance and Financial Services (As % of Service Exports, BoP) Unit 2009 2010 2011 2012 2013 2014 2015 2016
Austria % 6.99% 7.17% 7.02% 6.66% 6.30%
Czech Republic % 2.75% 3.05% 2.93% 3.00% 3.12%
Germany % 13.7% 13.3% 14.1% 12.8% 12.2%
Hungary % 1.60% 1.54% 1.06% 1.44% 1.27%
Italy % 6.31% 6.79% 6.77% 6.81% 6.77%
Poland % 2.59% 2.66% 2.39% 2.40% 2.14%
Russia % 3.02% 2.48% 2.80% 3.17% 3.03%
Slovakia % 2.39% 1.76% 2.17% 2.02% 2.60%
Switzerland % 30.0% 28.6% 26.2% 25.5% 24.0%
Ukraine % 2.77% 1.67% 1.37% 1.72% 1.57% ...