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

Source: World Bank
Last Updated: Oct 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 2.40 % in 2019 in Laos, according to the National Central Bank / OECD. This is 379 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Laos reached an all time high of 5.80 % in 2013 and an all time low of % in. When compared to Laos's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Cambodia amounted to 0.538 %, 3.56 % in China and 1.11 % in Thailand in 2019.

Laos has been ranked 76th within the group of 146 countries we follow in terms of insurance and financial services as a percentage of service exports from the balance of payment, 5 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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