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

Source: World Bank
Last Updated: Apr 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 10.8 % in 2018 in Germany, according to the National Central Bank / OECD. This is 1.99 % less than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Germany reached an all time high of 16.2 % in 2009 and an all time low of 0.724 % in 1985. When compared to Germany's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Austria amounted to 4.59 %, 8.79 % in Belgium, 7.95 % in France and 2.04 % in Poland in 2018.

Germany has been ranked 27th 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, 13 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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