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

Source: World Bank
Last Updated: January 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 0.521 % in 2018 in Ghana, according to the National Central Bank / OECD. This is 50.2 % less than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Ghana reached an all time high of 5.35 % in 1975 and an all time low of 0.444 % in 2015. When compared to Ghana's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Benin amounted to 24.8 %, 2.21 % in Ivory Coast and 3.62 % in Togo in 2018.

Ghana has been ranked 132nd 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, 11 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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