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

Source: World Bank
Last Updated: Apr 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 1.27 % in 2018 in Kazakhstan, according to the National Central Bank / OECD. This is 45.2 % less than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Kazakhstan reached an all time high of 4.56 % in 2008 and an all time low of 0.012 % in 1997. When compared to Kazakhstan's main peers, insurance and financial services as a percentage of service exports from the balance of payment in China amounted to 3.54 %, 1.71 % in Kyrgyzstan, 2.84 % in Russia and 1.30 % in Uzbekistan in 2018.

Kazakhstan has been ranked 108th 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, 65 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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