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Insurance and Financial Services (As % of Service Imports, BoP) rose 37.9% to 36.4% in Cyprus in 2020

Insurance and Financial Services (As % of Service Imports, BoP) (%), 2020
Insurance | Cyprus | April 1, 2022
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Excel Sheet

Insurance and financial services as a percentage of service imports from the balance of payment rose 37.9% to 36.4% in Cyprus in 2020, according to the National Central Bank / OECD.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Cyprus reached an all time high of 36.4% in 2020 and an all time low of 0.283% in 1984. When compared to Cyprus's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Egypt amounted to 11.7%, 8.89% in Greece, 2.76% in Israel and 11.0% in Turkey in 2020.

Cyprus has been ranked 2nd within the group of 142 countries we follow in terms of insurance and financial services as a percentage of service imports from the balance of payment, 3 places above the position seen 10 years ago.

Insurance and Financial Services (As % of Service Imports, BoP) Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Albania % 1.52% 3.16% 2.14% 2.37% 2.62%
Bulgaria % 5.59% 15.7% 11.0% 8.97% 15.9%
Cyprus % 28.4% 25.4% 28.5% 26.4% 26.7%
Egypt % 10.1% 9.85% 10.5% 10.0% 10.7%
Greece % 10.9% 8.45% 8.89% 8.16% 7.95%
Iran % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Iraq % ... ... ... ... ... 18.9% 17.3% 15.4% 15.5% 17.1%
Israel % 2.15% 1.96% 2.81% 2.12% 1.86%
Jordan % 10.8% 11.9% 13.2% 11.6% 10.5%
Lebanon % ... ... 11.2% 15.5% 16.5% 20.1% 16.4%
Libya % 33.6% 37.6% 25.3% 19.5% 22.9% ...
Macedonia % 3.91% 3.49% 3.63% 3.40% 2.64%
Saudi Arabia % 3.25% 3.34% 3.53% 3.86% 4.98%
Sudan % ... 13.6% 0.429% 1.16% 5.10% 6.12%
Syria % ... ... ... ... ... ... ... ... ... ... ... ... ...
Turkey % 14.9% 15.0% 11.6% 11.7% 9.32%