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Insurance and Financial Services (As % of Service Exports, BoP) in Albania

Source: World Bank
Last Updated: Oct 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 0.771 % in 2020 in Albania, according to the National Central Bank / OECD. This is 75.7 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Albania reached an all time high of 15.3 % in 1997 and an all time low of % in. When compared to Albania's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Greece amounted to 2.41 %, 5.68 % in Kosovo, 0.265 % in Macedonia and 0.747 % in Montenegro in 2020.

Albania has been ranked 82nd within the group of 94 countries we follow in terms of insurance and financial services as a percentage of service exports from the balance of payment, 61 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.

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