Insurance and Financial Services (As % of Service Imports, BoP) fell to 25.3% in Libya in 2016

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

Insurance and financial services as a percentage of service imports from the balance of payment reached 33.6 % in 2014 in Libya, according to the National Central Bank / OECD. This is 10.7 % less than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Libya reached an all time high of 37.6 % in 2015 and an all time low of 0.484 % in 2001. When compared to Libya's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Algeria amounted to 2.30 %, 10.1 % in Egypt and 8.70 % in Tunisia in 2014.

Libya has been ranked 3rd within the group of 158 countries we follow in terms of insurance and financial services as a percentage of service imports from the balance of payment, 69 places above the position seen 10 years ago.

Insurance and financial services (% of service imports, BoP) cover various types of insurance provided to residents by non-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 Imports, BoP) Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017
Algeria % 1.82% 2.12% 2.41% 2.30% 2.42%
Cameroon % 8.01% 7.26% 6.28% 6.64% 7.22%
Chad % ... ... ... ... ... ... ... ... ...
Egypt % 10.7% 9.94% 9.59% 10.1% 9.85%
Israel % 3.22% 2.78% 2.67% 2.15% 1.98%
Italy % 9.27% 10.0% 10.3% 10.0% 10.8%
Libya % 5.67% 18.0% 19.4% 33.6% 37.6% ...
Malta % 37.5% 35.1% 34.2% 33.2% 27.6%
Morocco % 2.89% 3.40% 3.62% 2.35% 2.67%
Niger % 1.29% 0.644% 0.336% 1.39% 1.48%
Nigeria % 4.16% 4.84% 4.42% 6.33% 7.40%
Saudi Arabia % 4.57% 4.60% 4.31% 3.25% 3.34%
Spain % 7.43% 7.94% 9.50% 10.2% 9.80%
Sudan % 7.58% 9.14% 10.6% 13.6% 0.429%
Tunisia % 8.68% 8.22% 7.92% 8.70% 8.87%