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

Source: World Bank
Last Updated: Oct 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 11.4 % in 2019 in Benin, according to the National Central Bank / OECD. This is 54.1 % less 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 24.8 % in 2018 and an all time low of % in. 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 %, 1.71 % in Niger and 16.3 % in Nigeria in 2019.

Benin has been ranked 21st within the group of 146 countries we follow in terms of insurance and financial services as a percentage of service exports from the balance of payment, 62 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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