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

Insurance and financial services as a percentage of service exports from the balance of payment reached 13.8 % in 2017 in Guinea, according to the National Central Bank / OECD. This is 45.6 % less than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Guinea reached an all time high of 31.2 % in 2016 and an all time low of 0.013 % in 1992. When compared to Guinea's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Liberia amounted to 16.4 %, 0.992 % in Mali, 2.21 % in Senegal and 4.13 % in Sierra Leone in 2017.

Guinea has been ranked 20th within the group of 149 countries we follow in terms of insurance and financial services as a percentage of service exports from the balance of payment, 98 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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