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

Source: World Bank
Last Updated: Oct 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 13.6 % in 2020 in Canada, according to the National Central Bank / OECD. This is 30.4 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Canada reached an all time high of 13.6 % in 2020 and an all time low of % in. When compared to Canada's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Australia amounted to 7.56 %, 21.0 % in Mexico, 30.7 % in United Kingdom and 22.2 % in USA in 2020.

Canada has been ranked 13th 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, 13 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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