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

Source: World Bank
Last Updated: Apr 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 0.439 % in 2018 in Albania, according to the National Central Bank / OECD. This is 12.3 % less 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 0.178 % in 2010. 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 1.39 %, 1.93 % in Kosovo, 0.260 % in Macedonia and 0.438 % in Montenegro in 2018.

Albania has been ranked 137th within the group of 153 countries we follow in terms of insurance and financial services as a percentage of service exports from the balance of payment, 63 places behind 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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