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

Source: World Bank
Last Updated: January 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 3.59 % in 2018 in Guatemala, according to the National Central Bank / OECD. This is 9.71 % less than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Guatemala reached an all time high of 9.99 % in 1981 and an all time low of 0.323 % in 1986. When compared to Guatemala's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Belize amounted to 0.671 %, 3.43 % in El Salvador, 0.112 % in Honduras and 0.477 % in Nicaragua in 2018.

Guatemala has been ranked 58th 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, 19 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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