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

Source: World Bank
Last Updated: Oct 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 1.66 % in 2020 in Romania, according to the National Central Bank / OECD. This is 6.31 % more 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 % in. 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 9.87 %, 2.21 % in Hungary, 0.304 % in Moldova and 0.935 % in Ukraine in 2020.

Romania has been ranked 72nd 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, 30 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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