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

Source: World Bank
Last Updated: January 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 0.192 % in 2018 in Gambia, according to the National Central Bank / OECD. This is 19.3 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Gambia reached an all time high of 1.18 % in 2014 and an all time low of 0.047 % in 1992. When compared to Gambia's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Guinea Bissau amounted to 8.58 %, 0.882 % in Mali, 1.11 % in Mauritania and 2.43 % in Senegal in 2018.

Gambia has been ranked 146th 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, 14 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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