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

Insurance and financial services as a percentage of service exports from the balance of payment reached 4.41 % in 2017 in New Zealand, according to the National Central Bank / OECD. This is 5.56 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in New Zealand reached an all time high of 4.43 % in 2013 and an all time low of -0.940 % in 1992. When compared to New Zealand's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Australia amounted to 5.65 %, 2.85 % in Indonesia, 2.24 % in Malaysia and 0.926 % in Philippines in 2017.

New Zealand has been ranked 46th within the group of 149 countries we follow in terms of insurance and financial services as a percentage of service exports from the balance of payment, 31 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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