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

Insurance and financial services as a percentage of service exports from the balance of payment reached 7.92 % in 2017 in Belgium, according to the National Central Bank / OECD. This is 10.6 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Belgium reached an all time high of 9.73 % in 2009 and an all time low of 6.49 % in 2007. When compared to Belgium's main peers, insurance and financial services as a percentage of service exports from the balance of payment in France amounted to 7.21 %, 11.4 % in Germany, 61.3 % in Luxembourg and 3.96 % in Netherlands in 2017.

Belgium has been ranked 30th 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, 4 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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