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

Source: World Bank
Last Updated: Oct 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 3.37 % in 2020 in Paraguay, according to the National Central Bank / OECD. This is 38.8 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Paraguay reached an all time high of 19.6 % in 1998 and an all time low of % in. When compared to Paraguay's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Argentina amounted to 2.18 %, 0.489 % in Bolivia, 4.95 % in Brazil and 9.30 % in Chile in 2020.

Paraguay has been ranked 50th within the group of 94 countries we follow in terms of insurance and financial services as a percentage of service exports from the balance of payment, 1 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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