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

Source: World Bank
Last Updated: Oct 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 7.52 % in 2020 in Guatemala, according to the National Central Bank / OECD. This is 110 % more 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 % in. When compared to Guatemala's main peers, insurance and financial services as a percentage of service exports from the balance of payment in El Salvador amounted to 4.63 % and 0.689 % in Nicaragua in 2020.

Guatemala has been ranked 28th within the group of 94 countries we follow in terms of insurance and financial services as a percentage of service exports from the balance of payment, 44 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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