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

Insurance and financial services as a percentage of service exports from the balance of payment reached 0.596 % in 2017 in Belarus, according to the National Central Bank / OECD. This is 13.7 % 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 1.48 %, 2.36 % in Poland, 2.53 % in Russia and 0.607 % in Ukraine in 2017.

Belarus has been ranked 126th 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, 11 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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