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

Insurance and financial services as a percentage of service exports from the balance of payment reached 8.75 % in 2016 in Nigeria, according to the National Central Bank / OECD. This is 22 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Nigeria reached an all time high of 9.34 % in 2015 and an all time low of 0.113 % in 2003. When compared to Nigeria's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Benin amounted to 3.74 %, 5.83 % in Cameroon and 1.91 % in Niger in 2016.

Nigeria has been ranked 33rd 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, 89 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.

$2.99

Buy Insurance and Financial Services (As % of Service Exports, BoP) data for Nigeria.

from $199/month

Buy annual subscriptions for all our products.