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

Source: World Bank
Last Updated: Apr 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 2.43 % in 2018 in Paraguay, according to the National Central Bank / OECD. This is 1.60 % less 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 0.068 % in 1988. 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 1.55 %, 0.448 % in Bolivia, 3.70 % in Brazil and 5.20 % in Chile in 2018.

Paraguay has been ranked 76th 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, 34 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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