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

Source: World Bank
Last Updated: January 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 0.438 % in 2018 in Montenegro, according to the National Central Bank / OECD. This is 42.3 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Montenegro reached an all time high of 1.32 % in 2009 and an all time low of 0.308 % in 2019. When compared to Montenegro's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Albania amounted to 0.439 %, 0.401 % in Bosnia and Herzegovina, 1.13 % in Croatia and 0.759 % in Serbia in 2018.

Montenegro has been ranked 138th 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, 14 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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