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

Source: World Bank
Last Updated: Oct 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 0.836 % in 2020 in Belarus, according to the National Central Bank / OECD. This is 35.5 % more 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 % in. 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 1.77 %, 2.38 % in Poland, 3.49 % in Russia and 0.935 % in Ukraine in 2020.

Belarus has been ranked 81st within the group of 94 countries we follow in terms of insurance and financial services as a percentage of service exports from the balance of payment, 50 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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