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

Insurance and financial services as a percentage of service exports from the balance of payment reached 10.3 % in 2017 in Canada, according to the National Central Bank / OECD. This is 8.24 % less 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 12.6 % in 1985 and an all time low of 5.88 % in 2004. 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 5.65 %, 14.8 % in Mexico, 28.0 % in United Kingdom and 16.0 % in USA in 2017.

Canada has been ranked 27th 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, 3 places behind 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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