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

Source: World Bank
Last Updated: Apr 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 1.74 % in 2018 in Hungary, according to the National Central Bank / OECD. This is 1.76 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Hungary reached an all time high of 5.32 % in 1997 and an all time low of 0.054 % in 1992. When compared to Hungary's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Austria amounted to 4.59 %, 2.85 % in Czech Republic, 2.04 % in Poland and 1.97 % in Slovakia in 2018.

Hungary has been ranked 92nd 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, 16 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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