Insurance and Financial Services (As % of Service Exports, BoP) rose to 12.8% in Kenya in 2017

Insurance and Financial Services (As % of Service Exports, BoP) (%)
Insurance | Kenya | May 17, 2019
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Excel Sheet

Insurance and financial services as a percentage of service exports from the balance of payment reached 7.24 % in 2015 in Kenya, according to the National Central Bank / OECD. This is 17.6 % less than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Kenya reached an all time high of 12.8 % in 2017 and an all time low of 0.259 % in 2007. When compared to Kenya's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Ethiopia amounted to 0.010 %, 1.74 % in Tanzania and 3.31 % in Uganda in 2015.

Kenya has been ranked 35th within the group of 155 countries we follow in terms of insurance and financial services as a percentage of service exports from the balance of payment, 87 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 2017
Dem. Republic of the Congo % 7.49% 10.4% 3.93% 2.32% 3.11%
Djibouti % ... ... ... ... ... ... ... ... ...
Eritrea % ... ... ... ... ... ... ... ... ...
Ethiopia % 0.097% 0.044% 0.048% < 0.001% 0.010%
Kenya % 4.64% 5.82% 6.19% 5.66% 7.24%
Mozambique % 1.29% 0.362% 0.147% 0.020% 6.66%
Rwanda % 0.399% 0.414% ... ... 4.09%
Somalia % ... ... ... ... ... ... ... ... ...
South Sudan % ... ... ... ... ... 48.6% 38.8% ...
Sudan % 1.56% 2.04% 0.653% 0.200% 0.725%
Tanzania % 1.47% 1.77% 2.03% 1.77% 1.74%
Uganda % 2.41% 3.01% 2.24% 2.81% 3.31%
Yemen % ... ... ... ... ... ... ... ... ...
Zambia % 1.15% 34.1% 9.91% 9.34% 9.76%