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

Insurance and financial services as a percentage of service exports from the balance of payment reached 1.65 % in 2017 in Tanzania, according to the National Central Bank / OECD. This is 9.48 % less than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Tanzania reached an all time high of 3.93 % in 1998 and an all time low of 0.009 % in 1995. When compared to Tanzania's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Kenya amounted to 12.8 %, 1.71 % in Mozambique, 2.16 % in Uganda and 9.86 % in Zambia in 2017.

Tanzania has been ranked 93rd 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 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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