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

Source: World Bank
Last Updated: Oct 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 5.58 % in 2019 in Sierra Leone, according to the National Central Bank / OECD. This is 24.3 % less than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Sierra Leone reached an all time high of 8.41 % in 2016 and an all time low of % in. When compared to Sierra Leone's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Burkina Faso amounted to 17.7 %, 5.47 % in Guinea and 78.8 % in Liberia in 2019.

Sierra Leone has been ranked 45th within the group of 146 countries we follow in terms of insurance and financial services as a percentage of service exports from the balance of payment, 79 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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