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

Source: World Bank
Last Updated: January 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 20.9 % in 2018 in Hong Kong, according to the National Central Bank / OECD. This is 7.25 % less than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Hong Kong reached an all time high of 22.6 % in 2019 and an all time low of 12.1 % in 1998. When compared to Hong Kong's main peers, insurance and financial services as a percentage of service exports from the balance of payment in China amounted to 3.54 % and 17.2 % in Singapore in 2018.

Hong Kong has been ranked 12th 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, 3 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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