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

Insurance and financial services as a percentage of service exports from the balance of payment reached 5.22 % in 2016 in Sri Lanka, according to the National Central Bank / OECD. This is 4.86 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Sri Lanka reached an all time high of 31.2 % in 2001 and an all time low of 0.869 % in 1978. When compared to Sri Lanka's main peers, insurance and financial services as a percentage of service exports from the balance of payment in India amounted to 4.45 %, 2.28 % in Malaysia and 0.707 % in Myanmar in 2016.

Sri Lanka has been ranked 45th within the group of 154 countries we follow in terms of insurance and financial services as a percentage of service exports from the balance of payment, 9 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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