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

Insurance and financial services as a percentage of service exports from the balance of payment reached 15.1 % in 2017 in Kuwait, according to the National Central Bank / OECD. This is 50.8 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Kuwait reached an all time high of 15.1 % in 2017 and an all time low of 1.17 % in 2006. When compared to Kuwait's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Bahrain amounted to 46.9 %, 0.782 % in Iraq and 4.03 % in Saudi Arabia in 2017.

Kuwait has been ranked 18th 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, 94 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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