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

Source: World Bank
Last Updated: Apr 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 9.36 % in 2017 in Guyana, according to the National Central Bank / OECD. This is 16.8 % less than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Guyana reached an all time high of 15.0 % in 2015 and an all time low of 2.03 % in 1997. When compared to Guyana's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Brazil amounted to 3.96 %, 3.00 % in Suriname and 6.15 % in Trinidad and Tobago in 2017.

Guyana has been ranked 32nd within the group of 155 countries we follow in terms of insurance and financial services as a percentage of service exports from the balance of payment, 15 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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