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

Source: World Bank
Last Updated: Apr 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 4.59 % in 2018 in Austria, according to the National Central Bank / OECD. This is 9.05 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Austria reached an all time high of 8.34 % in 2008 and an all time low of 2.83 % in 1990. When compared to Austria's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Germany amounted to 10.8 %, 1.74 % in Hungary, 7.49 % in Italy and 22.9 % in Switzerland in 2018.

Austria has been ranked 48th 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, 23 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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