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

Insurance and financial services as a percentage of service exports from the balance of payment reached 0.236 % in 2017 in Macedonia, according to the National Central Bank / OECD. This is 25.7 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Macedonia reached an all time high of 2.06 % in 1996 and an all time low of 0.171 % in 2015. When compared to Macedonia's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Albania amounted to 0.271 %, 1.37 % in Bulgaria, 1.73 % in Greece and 1.52 % in Kosovo in 2017.

Macedonia has been ranked 140th 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, 30 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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