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

Insurance and financial services as a percentage of service exports from the balance of payment reached 1.53 % in 2017 in Romania, according to the National Central Bank / OECD. This is 12.9 % less than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Romania reached an all time high of 7.43 % in 2000 and an all time low of 1.14 % in 2006. When compared to Romania's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Bulgaria amounted to 1.37 %, 1.71 % in Hungary, 0.391 % in Moldova and 0.607 % in Ukraine in 2017.

Romania has been ranked 97th 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, 49 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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