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

Source: World Bank
Last Updated: May 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 0.617 % in 2018 in Belarus, according to the National Central Bank / OECD. This is 9.01 % less than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Belarus reached an all time high of 1.44 % in 1998 and an all time low of 0.147 % in 2003. When compared to Belarus's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Lithuania amounted to 1.61 %, 2.04 % in Poland, 2.84 % in Russia and 1.05 % in Ukraine in 2018.

Belarus has been ranked 130th 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, 5 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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