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

Insurance and financial services as a percentage of service exports from the balance of payment reached 2.02 % in 2017 in Slovakia, according to the National Central Bank / OECD. This is 9.98 % less than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Slovakia reached an all time high of 5.41 % in 1996 and an all time low of 1.07 % in 2003. When compared to Slovakia's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Austria amounted to 4.73 %, 2.61 % in Czech Republic, 1.71 % in Hungary and 2.36 % in Poland in 2017.

Slovakia has been ranked 86th 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, 41 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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