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

Source: World Bank
Last Updated: January 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 2.85 % in 2018 in Czech Republic, according to the National Central Bank / OECD. This is 17.6 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Czech Republic reached an all time high of 8.06 % in 1993 and an all time low of 0.854 % in 1995. When compared to Czech Republic's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Austria amounted to 4.59 %, 1.74 % in Hungary, 2.04 % in Poland and 1.97 % in Slovakia in 2018.

Czech Republic has been ranked 68th 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, 12 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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