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

Source: World Bank
Last Updated: January 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 10.7 % in 2017 in Algeria, according to the National Central Bank / OECD. This is 1.84 % less than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Algeria reached an all time high of 21.0 % in 2005 and an all time low of 4.17 % in 1977. When compared to Algeria's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Libya amounted to 41.5 %, 1.01 % in Morocco, 3.73 % in Spain and 3.92 % in Tunisia in 2017.

Algeria has been ranked 27th 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, 14 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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