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

Insurance and financial services as a percentage of service exports from the balance of payment reached 1.14 % in 2017 in Colombia, according to the National Central Bank / OECD. This is 25.2 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Colombia reached an all time high of 16.5 % in 1990 and an all time low of 0.912 % in 2016. When compared to Colombia's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Brazil amounted to 3.96 % and 18.0 % in Peru in 2017.

Colombia has been ranked 108th 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, 26 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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