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

Insurance and financial services as a percentage of service exports from the balance of payment reached 2.36 % in 2017 in Togo, according to the National Central Bank / OECD. This is 19.6 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Togo reached an all time high of 10.5 % in 1990 and an all time low of 0.371 % in 1988. When compared to Togo's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Benin amounted to 3.91 %, 17.7 % in Burkina Faso, 0.553 % in Ghana and 7.18 % in Nigeria in 2017.

Togo has been ranked 79th 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, 28 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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