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

Source: World Bank
Last Updated: Apr 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 2.21 % in 2018 in Ecuador, according to the National Central Bank / OECD. This is 9.34 % less than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Ecuador reached an all time high of 27.0 % in 1978 and an all time low of < 0.001 % in 2006. When compared to Ecuador's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Brazil amounted to 3.70 %, 0.908 % in Colombia, 9.86 % in Panama and 10.7 % in Peru in 2018.

Ecuador has been ranked 80th 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.

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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