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

Insurance and financial services as a percentage of service exports from the balance of payment reached 4.13 % in 2017 in Sierra Leone, according to the National Central Bank / OECD. This is 110 % more 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 6.07 % in 2006 and an all time low of 0.058 % in 2001. 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 %, 13.8 % in Guinea, 16.4 % in Liberia and 0.992 % in Mali in 2017.

Sierra Leone has been ranked 50th 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, 38 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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