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

Insurance and financial services as a percentage of service exports from the balance of payment reached 4.89 % in 2016 in Namibia, according to the National Central Bank / OECD. This is 10.9 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Namibia reached an all time high of 6.03 % in 1991 and an all time low of -0.003 % in 2003. When compared to Namibia's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Botswana amounted to 0.446 % and 6.94 % in South Africa in 2016.

Namibia has been ranked 48th within the group of 154 countries we follow in terms of insurance and financial services as a percentage of service exports from the balance of payment, 85 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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