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

Insurance and financial services as a percentage of service exports from the balance of payment reached 3.91 % in 2017 in Benin, according to the National Central Bank / OECD. This is 4.53 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Benin reached an all time high of 10.7 % in 2012 and an all time low of 0.482 % in 2003. When compared to Benin's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Burkina Faso amounted to 17.7 %, 1.04 % in Niger, 7.18 % in Nigeria and 2.36 % in Togo in 2017.

Benin has been ranked 56th 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, 28 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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