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

Source: World Bank
Last Updated: Apr 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 3.54 % in 2018 in China, according to the National Central Bank / OECD. This is 0.729 % less than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in China reached an all time high of 10.2 % in 1994 and an all time low of 0.236 % in 2000. When compared to China's main peers, insurance and financial services as a percentage of service exports from the balance of payment in India amounted to 3.91 %, 7.05 % in Japan, 2.84 % in Russia and 17.4 % in USA in 2018.

China has been ranked 60th within the group of 153 countries we follow in terms of insurance and financial services as a percentage of service exports from the balance of payment, 53 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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