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

Insurance and financial services as a percentage of service exports from the balance of payment reached 0.748 % in 2015 in Maldives, according to the National Central Bank / OECD. This is 33.5 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Maldives reached an all time high of 8.07 % in 1980 and an all time low of 0.052 % in 2009. When compared to Maldives's main peers, insurance and financial services as a percentage of service exports from the balance of payment in India amounted to 4.69 %, 1.36 % in Indonesia, 17.5 % in Singapore and 5.83 % in Sri Lanka in 2015.

Maldives has been ranked 130th within the group of 155 countries we follow in terms of insurance and financial services as a percentage of service exports from the balance of payment, 2 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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