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

Source: World Bank
Last Updated: Oct 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 0.484 % in 2019 in Madagascar, according to the National Central Bank / OECD. This is 2.43 % less 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 % in. 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 3.16 %, 7.12 % in South Africa, 12.0 % in Swaziland and 1.45 % in Tanzania in 2019.

Madagascar has been ranked 128th 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, 21 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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