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

Insurance and financial services as a percentage of service exports from the balance of payment reached 12.3 % in 2016 in Trinidad and Tobago, according to the National Central Bank / OECD. This is 27 % less than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Trinidad and Tobago reached an all time high of 24.0 % in 2008 and an all time low of 4.51 % in 1998. When compared to Trinidad and Tobago's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Guyana amounted to 8.33 %, 10.5 % in Suriname and 1.40 % in Venezuela in 2016.

Trinidad and Tobago has been ranked 19th 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 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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