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

Source: World Bank
Last Updated: Apr 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 1.41 % in 2018 in Uganda, according to the National Central Bank / OECD. This is 19.4 % less than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Uganda reached an all time high of 3.87 % in 2007 and an all time low of 0.785 % in 2001. When compared to Uganda's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Kenya amounted to 15.3 %, 3.78 % in Rwanda, 1.44 % in South Sudan and 2.03 % in Dem. Republic of the Congo in 2018.

Uganda has been ranked 101st within the group of 153 countries we follow in terms of insurance and financial services as a percentage of service exports from the balance of payment, 37 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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