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

Source: World Bank
Last Updated: January 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 23.4 % in 2018 in Malawi, according to the National Central Bank / OECD. This is 4.23 % less than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Malawi reached an all time high of 24.4 % in 2019 and an all time low of 0.102 % in 1988. When compared to Malawi's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Mozambique amounted to 2.11 %, 7.45 % in South Africa, 1.25 % in Tanzania and 8.98 % in Zambia in 2018.

Malawi has been ranked 10th within the group of 153 countries we follow in terms of insurance and financial services as a percentage of service exports from the balance of payment, 34 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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