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

Source: World Bank
Last Updated: January 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 1.62 % in 2018 in Portugal, according to the National Central Bank / OECD. This is 7.23 % less than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Portugal reached an all time high of 7.58 % in 2000 and an all time low of 0.523 % in 1992. When compared to Portugal's main peers, insurance and financial services as a percentage of service exports from the balance of payment in France amounted to 7.95 %, 13.2 % in Ireland, 1.03 % in Morocco and 3.38 % in Spain in 2018.

Portugal has been ranked 94th 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, 32 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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