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

Insurance and financial services as a percentage of service exports from the balance of payment reached 0.270 % in 2017 in Madagascar, according to the National Central Bank / OECD. This is 28.6 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Madagascar reached an all time high of 5.37 % in 1993 and an all time low of 0.005 % in 2005. When compared to Madagascar's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Mozambique amounted to 1.71 %, 6.94 % in South Africa, 46.3 % in Swaziland and 1.65 % in Tanzania in 2017.

Madagascar has been ranked 139th 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, 6 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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