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

Insurance and financial services as a percentage of service exports from the balance of payment reached 4.36 % in 2017 in Spain, according to the National Central Bank / OECD. This is 0.314 % less than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Spain reached an all time high of 5.95 % in 1992 and an all time low of 1.29 % in 1986. When compared to Spain's main peers, insurance and financial services as a percentage of service exports from the balance of payment in France amounted to 7.21 %, 6.86 % in Italy, 1.05 % in Morocco and 1.58 % in Portugal in 2017.

Spain has been ranked 47th 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, 8 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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