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

Insurance and financial services as a percentage of service exports from the balance of payment reached 1.67 % in 2017 in Armenia, according to the National Central Bank / OECD. This is 0.278 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Armenia reached an all time high of 6.44 % in 1996 and an all time low of 0.000 % in 1990. When compared to Armenia's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Azerbaijan amounted to 0.631 %, 0.711 % in Georgia and 4.35 % in Turkey in 2017.

Armenia has been ranked 92nd within the group of 149 countries we follow in terms of insurance and financial services as a percentage of service exports from the balance of payment, 9 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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