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

Source: World Bank
Last Updated: Apr 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 7.49 % in 2018 in Italy, according to the National Central Bank / OECD. This is 15.0 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Italy reached an all time high of 9.80 % in 1974 and an all time low of 3.60 % in 1999. When compared to Italy's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Austria amounted to 4.59 %, 7.95 % in France, 2.18 % in Slovenia and 22.9 % in Switzerland in 2018.

Italy has been ranked 38th 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, 2 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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