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

Insurance and financial services as a percentage of service exports from the balance of payment reached 0.782 % in 2017 in Iraq, according to the National Central Bank / OECD. This is 6.12 % less than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Iraq reached an all time high of 2.21 % in 2007 and an all time low of 0.169 % in 2009. When compared to Iraq's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Kuwait amounted to 15.1 % and 4.03 % in Saudi Arabia in 2017.

Iraq has been ranked 121st 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, 40 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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